Mortgage Calculator

Estimates only — your lender's disclosure governs. LoanMatchers is not a lender. Rates and terms vary by lender and creditworthiness. This page provides general educational information, not financial advice — consult a qualified professional before making financial decisions.

How it works

Principal and interest amortize over the term; tax and insurance are divided by 12; PMI applies when the down payment is under 20% and is charged on the loan balance; HOA is added flat.

Need a realistic rate? See the current mortgage rate benchmarks (cited official benchmarks).

Frequently asked questions

What does PITI mean?

Principal, Interest, property Tax, and homeowner's Insurance — the four parts of most mortgage payments. PMI (private mortgage insurance) and HOA dues may add a fifth and sixth part.

How much house can I afford?

Lenders commonly look for a back-end debt-to-income ratio around 36–43%. Enter your income, debts, down payment, rate, and term in the affordability calculator for a price estimate.

What is PMI and when does it apply?

Private mortgage insurance protects the lender when the down payment is below 20% of the home price. It is added to the monthly payment until enough equity is built.

Where does the benchmark mortgage rate come from?

Freddie Mac publishes national average 30-year and 15-year fixed rates every Thursday in its Primary Mortgage Market Survey — cited with the publication week on the mortgage rates page.