MortgageNavigator
Free · No Signup · All 50 States

Free Mortgage Calculator
for Your Best Decision.

Your dream home is one of the biggest financial decisions of your life — it deserves more than a guess. Calculate your monthly mortgage payment, PMI, closing costs, equity growth, and rent vs buy in one place.

Start Here Why Use This Calculator? FAQ & Glossary Browse by State
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A free mortgage calculator built for real home buyers

Mortgage Navigator is a free mortgage calculator for U.S. home buyers in all 50 states. Estimate your monthly mortgage payment in seconds — including principal and interest, property taxes, homeowners insurance, HOA dues, and PMI — with no signup, no email, and no sales pitch.

Unlike calculators built to generate leads for lenders, this one is independent. It auto-detects your state to pre-fill median home prices and rent, looks up property tax by ZIP code, drops PMI automatically once your loan-to-value reaches 80%, and shows a full amortization schedule alongside an equity growth chart projected with home appreciation.

The built-in rent vs buy calculator uses an apples-to-apples model: whoever pays less monthly invests the difference at a market return, so you see your real net wealth — buyer equity plus portfolio versus renter portfolio — over the years you actually plan to stay. That's the question most calculators won't answer honestly.

Calculate Your Monthly Mortgage Payment

✓ Imported listing details — adjust any value below for your situation
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Property & Loan Details

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Loan Term
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Monthly Costs

Zip Code Auto-estimates property tax for any US ZIP
Property Taxper month
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Home Insuranceper month · auto-estimated at 0.5% of value/yr
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HOAper month
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PMIper month (if applicable)
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Closing Costs

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Total Closing Costs $0
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Household Income

Total Annual Income $0
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Summary

Highlights
Total Monthly Payment
P+I + taxes + insurance + HOA
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Debt-to-Income
Add income to calculate
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Cash to Close
Down payment + closing costs
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Sum of Payments
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Total Interest
Over loan term
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Monthly Breakdown
Principal + Interest$0
Property Tax$0
Home Insurance$0
HOA$0
PMI$0
Extra Payment$0
Total$0
Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary.
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Projections

Annual P+I Breakdown
Interest Principal
Equity Growth & Home Appreciation
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Cumulative Cost Over Time
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7 yrs
Which is the better financial decision? Enter your current monthly rent above to see a full cost comparison between buying and renting over time.
How this works: Both sides invest monthly savings — whoever pays less housing each month puts the difference into a market portfolio. Buy costs inflate over time (tax +2.5%/yr, insurance +4%/yr, HOA +3%/yr, maintenance scales with home value). P&I is fixed. PMI drops at 80% LTV. Net wealth = equity after selling costs + investment portfolio (buying) vs. invested down payment + savings (renting). Higher line wins.

Not modeled: Capital gains tax on the renter's portfolio (~15–20% when withdrawn) vs. the buyer's $250K/$500K primary-residence tax exclusion — this generally favors buying more than shown. Mortgage interest deduction (most post-TCJA households take the standard deduction, so skipped). Renter's insurance (~$20/mo).
YrMoPayment Interest Principal Balance Equity Equity %

Know Before You Buy

Understanding your mortgage empowers you to negotiate better, budget smarter, and close with confidence. We break it all down below.

Why Use This Free Mortgage Calculator?

Most mortgage calculators give you a payment. This one gives you the full picture.

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True Cost to Close

Includes underwriting, appraisal, origination, title, and inspection fees — not just the down payment.
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Real-Time DTI Tracking

Add multiple income sources and instantly see your Debt-to-Income ratio update as you explore loan scenarios.
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Equity & Appreciation

Visualize how your home equity grows over time with customizable appreciation rates overlaid on your loan balance.
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Extra Payment Impact

See how much interest you save and how many years earlier you pay off by adding even a small extra monthly payment.

Understanding Your Mortgage Calculator

Every input and output explained — so you know exactly what you're looking at.

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Property & Loan Details
Property Value
The purchase price of the home. This drives everything: loan size, insurance estimate, tax estimate, and equity calculations.
Down Payment
The amount you pay upfront at closing. At 20% or more you avoid PMI. A larger down payment reduces your loan size and monthly payment.
Interest Rate
Your annual rate from the lender. Even a 0.5% difference can mean $30,000+ in total interest over a 30-year loan — shop around.
Loan Term
30-year loans minimize monthly payments; 15-year loans cut total interest roughly in half. Use the buttons to compare both scenarios instantly.
Extra Monthly Payment
An optional additional amount applied directly to principal each month. See the interest savings and payoff acceleration in the Insights tab.
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Monthly Costs
Property Tax
Estimated automatically from your ZIP code using state average rates. Fully editable once you know your county's actual assessed rate.
Home Insurance
Auto-calculated at 0.5% of home value per year — a common baseline. Adjust to match the quote from your actual insurer.
HOA
Homeowners Association dues, if applicable. Can range from $0 to $1,000+/month depending on the community and amenities.
PMI
Private Mortgage Insurance is required when your down payment is below 20%. Typically 0.5–1% of the loan per year, added to your monthly payment.
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Closing Costs
Underwriting
Lender fee for evaluating and approving your loan application. Typically $500–$1,500.
Appraisal
Independent assessment of the home's market value, required by most lenders. Usually $500–$900.
Origination Fee
Lender charge for processing the loan, typically 0.5–1% of the loan amount. Entered as a percentage here.
Escrow / Title
Fees for title search, title insurance, and escrow services. Often one of the larger closing cost line items.
Points Buy-down
Prepaid interest paid at closing to permanently lower your interest rate. One point = 1% of the loan amount.
Home Inspection
Professional inspection of the property's condition before purchase. Strongly recommended — typically $300–$600.
Transfer Tax
State or local tax on the transfer of property ownership. Varies significantly by location — some states charge none.
Buyer's Agent Fee
Commission for your real estate agent, typically 2–3% of the purchase price. Entered as a percentage with the dollar amount shown live.
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Summary Panel
Total Monthly Payment
Your complete monthly housing cost: principal + interest, property tax, insurance, HOA, PMI, and any extra payment.
Debt-to-Income (DTI)
Monthly housing cost ÷ gross monthly income. Under 28% is ideal; over 43% can affect loan approval. Updates in real time as you adjust income.
Cash to Close
The total you need at the closing table: down payment plus all closing costs. The true upfront cost of buying the home.
Sum of Payments
Every dollar paid over the full loan term. Comparing this to the purchase price shows the real long-term cost of financing.
Total Interest
The total cost of borrowing — often the most eye-opening number on the page. Reducing this is the main benefit of a higher down payment or extra payments.
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Insights Tab
P/I Crossover
The month when your principal payment first exceeds your interest payment. Before this point you're mostly paying the lender; after it you're mostly building equity.
Extra Payment Impact
Total interest saved and months cut from your loan term by making extra principal payments. Updates instantly when you change the extra payment field.
Equity Growth Chart
Three lines over your loan term: home value (with appreciation), your true equity (home value minus balance), and remaining loan balance. Hover for year-by-year data.
Cumulative Cost Chart
Running totals of what you've paid — principal, interest, and combined. Shows clearly how interest-heavy the early years of a mortgage are.
Annual P+I Breakdown
A bar chart showing each year's principal vs. interest split. As years progress, bars shift from mostly red (interest) to mostly green (principal).

Frequently Asked Questions

How much house can I afford? ▾
Most lenders follow the 28/36 rule: your monthly mortgage (PITI) shouldn't exceed 28% of gross monthly income, and total debt payments shouldn't exceed 36%. Use the Household Income panel to track your Debt-to-Income ratio in real time as you adjust your loan scenario.
What is the P/I crossover point? ▾
The crossover is the month when your principal payment first exceeds your interest payment. Early in a mortgage, most of each payment goes to interest. On a 30-year loan at 6–7%, this typically happens around year 18–20. The Insights tab shows your exact crossover month for your specific loan terms.
How do extra payments save money? ▾
Every extra dollar goes directly to principal, reducing the balance that interest is calculated on each month. This compounds over time — even $200–$500 extra per month on a 30-year mortgage can save tens of thousands in interest and shave years off the loan. Check the Extra Payment Impact card in Insights to see your exact numbers.
Is PMI required, and when can I remove it? ▾
PMI is typically required when your down payment is less than 20%. Under the Homeowners Protection Act, you can request cancellation once your equity reaches 20%, and lenders must automatically cancel it at 22% equity based on the original purchase price and scheduled payments.
What closing costs should I expect? ▾
Closing costs typically run 2–5% of the loan amount and include lender fees (origination, underwriting), third-party fees (appraisal, title/escrow, inspection), prepaid items (insurance, property taxes), and transfer taxes. Use the Closing Costs panel to enter your actual lender quotes for a precise cash-to-close number.
15-year vs. 30-year mortgage — which is better? ▾
A 15-year mortgage builds equity faster and typically carries a lower interest rate, saving significantly in total interest. A 30-year mortgage offers lower monthly payments and more cash flow flexibility. Use the loan term buttons at the top to compare both scenarios and see the difference in total interest and payoff timeline.

Mortgage Glossary

AmortizationPaying off a loan through regular scheduled payments. Early payments are mostly interest; later ones are mostly principal.
PITIPrincipal, Interest, Taxes, and Insurance — the four components of a full monthly mortgage payment.
DTI RatioDebt-to-Income: total monthly debt ÷ gross monthly income. Most lenders cap qualifying DTI at 43–45%.
PMIPrivate Mortgage Insurance, required when down payment is under 20%. Typically 0.5–1% of the loan per year.
EquityCurrent home value minus remaining loan balance — what you'd pocket if you sold today.
Closing CostsFees due at settlement, typically 2–5% of the loan. Includes lender fees, title, appraisal, and prepaids.
Origination FeeA lender charge for processing the loan, usually 0.5–1% of the loan amount.
PointsPrepaid interest paid at closing to reduce your rate. One point = 1% of the loan amount.

Browse mortgage calculators by state

Explore median home data, property tax, and first-time buyer programs. Click any state to view its dedicated mortgage calculator page.

Real data
Up-to-date median home prices and property tax by state.
Trusted & independent
Objective information to help you make confident home decisions.