Real Estate & Mortgage calculators

Who this category is for

• First-time buyers trying to work out a realistic price range before house hunting.
• Repeat buyers comparing how a new loan compares with what they currently pay.
• Homeowners weighing whether a refinance would actually lower their costs.
• Anyone deciding between continuing to rent and committing to a purchase.

How these calculators relate to each other

• Home affordability comes first for most buyers: it works backward from income, debts and a target down payment to a supportable price range.
• Mortgage takes a price and rate and produces the monthly principal, interest, tax, insurance and PMI payment — the number that affordability estimates in reverse.
• Down payment and closing cost estimate the cash needed before and at the closing table, which affordability assumes but does not itemize.
• Refinance reuses the same amortization math as mortgage, applied to an existing loan instead of a purchase.
• Rent vs buy pulls in numbers from several of the others — the mortgage payment, property tax and closing costs — to compare ownership against renting over time.

Key concepts

PITI

Principal, interest, taxes and insurance — the four components that typically make up a full monthly mortgage payment, sometimes with PMI and HOA dues added on top.

Debt-to-income ratio (DTI)

The share of gross monthly income already committed to debt payments. Lenders use DTI limits, often in the high-30s to low-40s percent including the new mortgage, to size an affordable loan.

Loan-to-value ratio (LTV)

Loan amount divided by home value. A larger down payment lowers LTV, which is why 20% down is the common threshold for avoiding PMI on a conventional loan.

PMI (private mortgage insurance)

Insurance that protects the lender, not the borrower, generally required on conventional loans above 80% LTV. It can usually be cancelled once the loan reaches 80% LTV and must automatically terminate at 78% under federal rules.

Closing costs vs. down payment

Two separate cash requirements. The down payment reduces the loan balance; closing costs pay lender, title and government fees and are due on top of it.

Break-even point

In a refinance, the number of months it takes for monthly savings to cover the cost of refinancing. Refinancing rarely makes sense if you plan to move before reaching it.

What these numbers do and do not tell you

Every output here is driven by the rate, tax rate, insurance premium and fees you enter. Lenders price loans individually using credit score, loan-to-value, occupancy and loan type, so a real Loan Estimate will differ from any calculator.

Use these tools to compare scenarios against each other — a 15-year term against a 30-year term, 10% down against 20% — rather than to predict an exact payment.

Related guides

• How Mortgage Payments Are CalculatedThe amortization formula behind a fixed-rate mortgage payment, a worked example, what PITI includes, and why your lender quote differs from a calculator.
• How Much House Can You Afford?How lenders calculate affordability using debt-to-income ratios, a worked example, and why the maximum you qualify for and the amount you should spend are different numbers.
• How Mortgage Refinancing WorksHow a refinance replaces your loan, the break-even math on closing costs, cash-out refinancing, and when refinancing usually does not pay off.
• What Are Closing Costs? A Buyer's Guide to the FeesClosing costs explained for US buyers: every fee category, two worked cash-to-close examples, which charges are negotiable, and how to read your Closing Disclosure.
• How Much Should You Put Down on a House?What different down payment sizes change: PMI, monthly payment, loan-to-value and cash reserves, with two worked comparisons.
• Rent vs Buy: What Costs Should You Compare?A fair rent-versus-buy comparison includes maintenance, closing costs, selling costs, equity and opportunity cost, with two worked examples across different time horizons.

Frequently asked questions

Which mortgage calculator should I use first?

If you don't yet have a target price, start with the home affordability calculator. If you already have a price and rate in mind, go straight to the mortgage calculator for the monthly payment breakdown.

Do these calculators check my credit or pull real rates?

No. They calculate from the interest rate, price and other numbers you type in. Real rates depend on your credit profile and current market pricing from a lender.

Is 20% down always required?

No. Many loan programs allow less, including conventional loans as low as 3% down and FHA loans at 3.5% down, but a down payment under 20% usually means paying mortgage insurance.

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