Run the numbers before anyone asks you for a document.
These are estimates, not quotes. They are meant to give you a realistic sense of what a price range actually costs per month, including the parts most calculators leave out.
What would this home actually cost per month?
Most calculators stop at principal and interest, which is why the real payment surprises people. This one includes taxes, insurance, HOA, and mortgage insurance.
DSCR calculator.
See whether a rental property covers its own payment. This is the first number a DSCR lender looks at. How DSCR loans work
How much home can you afford?
A quick estimate based on your income, debts, and down payment. A real pre-approval looks at more, but this gets you in the ballpark.
Does buying beat renting for you?
A simple side-by-side over the years you plan to stay, factoring equity and a modest 3%/yr appreciation estimate.
About these numbers.
How is a monthly mortgage payment calculated?
A monthly mortgage payment is usually made up of four parts, often abbreviated PITI: principal, interest, taxes, and insurance. Principal and interest are calculated from your loan amount, your interest rate, and your loan term using a standard amortization formula. Property taxes and homeowners insurance are typically collected monthly and held in an escrow account, then paid on your behalf when they come due. If your property is in an HOA, those dues are separate and are usually paid directly rather than through escrow. If your down payment is under twenty percent on a conventional loan, mortgage insurance is generally added as well.
What is included in a monthly mortgage payment besides principal and interest?
Most buyers underestimate their payment because they only calculate principal and interest. A realistic estimate should also include property taxes, which in California are commonly around one percent or more of assessed value annually depending on the county and any local assessments, homeowners insurance, HOA dues if applicable, and mortgage insurance if your down payment is below twenty percent on a conventional loan. Together these can add several hundred dollars a month, which is why a payment estimate that stops at principal and interest can be misleading.
What is PMI and when does it apply?
PMI, or private mortgage insurance, is insurance that protects the lender if a borrower stops paying. On conventional loans it generally applies when your down payment is less than twenty percent, and it can typically be removed once you reach sufficient equity, subject to your loan terms and servicer requirements. FHA loans use a different structure called MIP, which follows its own rules and in many cases stays for the life of the loan. Costs vary based on credit, loan type, and down payment.
Is a mortgage calculator accurate?
A calculator gives you a useful estimate, not a quote. It cannot see your credit profile, the exact tax rate for a specific parcel, your actual insurance premium, or the pricing a lender would offer you on a given day. Use it to understand roughly what a price range costs per month and to compare scenarios against each other. For a real number, you need an actual pre-approval where a lender reviews your income, credit, and assets.
Other calculators and tools.
Full payment calculator
A focused version of the payment estimator with the complete breakdown.
Open →Home value tracker
See your home’s estimated value and equity, updated monthly. No credit check.
Open →Home insurance quotes
Compare homeowners insurance as part of your purchase. You pick the insurer.
Open →Want the real number?
A calculator cannot see your credit, your income, or what a lender would actually offer you today. A pre-approval can. It takes a short conversation to start.