Mortgage Calculator 2026
Estimate your true monthly housing payment with precision. Includes PITI (Principal, Interest, Taxes, Insurance) and dynamic PMI removal calculations.
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/moDisclaimer: All calculators on this website are provided for informational and illustrative purposes only. The results do not constitute professional advice (including legal, tax, financial, medical, or other advice). Despite careful programming, we assume no liability for the accuracy, completeness, or timeliness of the results. For matters requiring professional advice, we recommend consulting an appropriate specialist (e.g., a tax advisor, lawyer, accountant, or physician).
2025 vs 2026 US Federal Tax Tables (Quick Reference)
When you plan a mortgage payment, it helps to understand your take‑home pay. For a full estimate, use our Income Tax Calculator or browse US tax tools.
Standard deduction
| Filing status | 2025 | 2026 |
|---|---|---|
| Single | $15,000 | $16,100 |
| Married Filing Jointly | $30,000 | $32,200 |
| Head of Household | $22,500 | $24,150 |
| Married Filing Separately | $15,000 | $16,100 |
Ordinary income bracket tops (Single / MFJ / HOH)
| Year | 10% top | 12% top | 22% top | 24% top | 32% top | 35% top | 37% starts |
|---|---|---|---|---|---|---|---|
| 2025 — Single | $11,925 | $48,475 | $103,350 | $197,300 | $250,525 | $626,350 | $626,351+ |
| 2026 — Single | $12,400 | $50,400 | $105,700 | $201,775 | $256,225 | $640,600 | $640,601+ |
| 2025 — MFJ | $23,850 | $96,950 | $206,700 | $394,600 | $501,050 | $751,600 | $751,601+ |
| 2026 — MFJ | $24,800 | $100,800 | $211,400 | $403,550 | $512,450 | $768,700 | $768,701+ |
| 2025 — HOH | $17,000 | $64,850 | $103,350 | $197,300 | $250,500 | $626,350 | $626,351+ |
| 2026 — HOH | $17,700 | $67,450 | $105,700 | $201,775 | $256,200 | $640,600 | $640,601+ |
What is PITI?
PITI is an acronym for the four main components of a monthly mortgage payment: Principal, Interest, Taxes, and Insurance. Lenders use PITI to calculate your debt-to-income ratio and determine how much home you can afford.
Example Mortgage Payments (2026)
Below are realistic monthly payment examples for different home prices, interest rates, and down payment scenarios. All calculations include PITI (Principal, Interest, Taxes, Insurance) and PMI where applicable. Property taxes are estimated at 1% of home value annually, and insurance at $1,200/year.
| Home Price | Down Payment | Interest Rate | Term | P&I | Taxes | Insurance | PMI | Total Payment |
|---|---|---|---|---|---|---|---|---|
| $300,000 | $60,000 (20%) | 6.5% | 30 years | $1,517 | $250 | $100 | $0 | $1,867 |
| $300,000 | $30,000 (10%) | 6.5% | 30 years | $1,706 | $250 | $100 | $113 | $2,169 |
| $500,000 | $100,000 (20%) | 6.5% | 30 years | $2,528 | $417 | $100 | $0 | $3,045 |
| $500,000 | $50,000 (10%) | 6.5% | 30 years | $2,844 | $417 | $100 | $188 | $3,549 |
| $750,000 | $150,000 (20%) | 6.0% | 30 years | $3,597 | $625 | $100 | $0 | $4,322 |
| $750,000 | $150,000 (20%) | 6.0% | 15 years | $5,062 | $625 | $100 | $0 | $5,787 |
Note: PMI is estimated at 0.5% of loan amount annually (divided by 12 for monthly). Actual rates may vary by lender and credit score. Property tax rates vary by location (shown at 1% for illustration).
How We Calculate Your Payment
Unlike basic calculators, we use the standard banking authorization formula combined with 2026 regulation logic for insurance layers.
The Formula:
- Principal (P): The loan amount (Home Price - Down Payment).
- Interest (i): Annual rate divided by 12.
- Term (n): Number of years Ă— 12.
The "Hidden" Costs:
We stack realistic estimates for Property Taxes (national avg ~0.8-1.2%), Homeowner's Insurance, and HOA fees on top of the base loan payment.
PMI Logic:
Private Mortgage Insurance applies if your down payment is under 20%. Unique to our tool, we calculate the exact month your PMI should drop off (when equity hits 20%), potentially saving you thousands in projected costs.
Mortgage Glossary (Plain‑English Definitions)
Mortgage jargon can hide real cost. Here are the most common terms you’ll see on loan estimates and lender disclosures, explained in simple language.
- Amortization
- How your monthly payment gets split between interest and principal over time.
- Escrow
- A lender‑managed account used to pay property taxes and insurance as they come due.
- PMI
- Private Mortgage Insurance—often required when your down payment is under 20%.
- LTV (Loan‑to‑Value)
- Loan amount Ă· home value. A lower LTV usually means lower risk (and often better pricing).
- DTI (Debt‑to‑Income)
- Your monthly debt payments compared to your gross monthly income (lenders use this heavily).
- Points
- Upfront fees paid to reduce your interest rate. Worth it only if you keep the loan long enough.
- APR vs Interest Rate
- APR includes certain fees and expresses a “true” annual cost; the rate is just interest.
- HOA
- Homeowners Association dues. Not part of the loan, but often unavoidable monthly housing cost.
How to Use the Mortgage Payment Calculator (Step‑by‑Step)
- Enter the home price and your down payment (amount or percent).
- Set your interest rate and loan term (e.g., 15 vs 30 years).
- If you want a “true cost” estimate, include property tax, insurance, and HOA.
- Review the PITI breakdown and the amortization chart—these show where your money goes over time.
- If PMI applies, note the estimated PMI removal date and use that in your long‑term budgeting.
Tips to Lower Your Monthly Mortgage Payment
- Increase the down payment to reduce the loan amount—and potentially remove PMI.
- Shop rates and fees: a small rate difference can change lifetime interest dramatically.
- Compare terms: 30‑year loans lower monthly payments; 15‑year loans often reduce total interest.
- Consider points carefully and calculate your break‑even time (how long until savings exceed upfront cost).
- Reduce “non‑loan” costs where possible (HOA, insurance shopping, tax exemptions when applicable).
Frequently Asked Questions
How much house can I afford in 2026?
Financial experts recommend the 28/36 rule. Your housing expenses (PITI) should not exceed 28% of your gross monthly income, and your total debt (including car loans, student loans, etc.) should not exceed 36%. For other types of loans, use our Loan Calculator to estimate payments.
Is a larger down payment better?
Generally, yes. Paying 20% or more eliminates PMI, lowers your monthly payment, and often secures a lower interest rate. However, ensure you keep enough cash reserves for closing costs and emergencies.
Do you include closing costs?
This specific tool focuses on monthly recurring costs. Closing costs (generating 2-5% of the loan amount) are paid upfront and are not typically financed into the monthly payment.
What’s the difference between a mortgage payment and PITI?
Many calculators show only principal + interest (P&I). PITI adds property taxes and homeowners insurance (and often HOA), which is closer to what you actually pay each month.
Do extra payments reduce my interest?
Extra payments applied to principal can reduce total interest and shorten the loan term. The impact depends on timing and whether your lender applies extra funds to principal by default.
Why do taxes and insurance change over time?
Property taxes can change with assessed value and local rates. Insurance premiums can also rise with replacement costs and risk factors. That’s why long‑term budgeting should include a buffer.
Related Financial Tools
Lock in Your Rate
Rates are volatile in 2026. Get pre-approved today to see exactly what you qualify for.
Did you know?
Adding just $100 extra to your principal payment each month can shorten a 30-year loan by over 4 years.