Mortgage Calculator
Free, instant, and attached to no lender. No sign-up, no email, no “get pre-approved.” Just the math: your full monthly payment (PITI) and a year-by-year amortization schedule. Change any number and it recalculates instantly.
Rate prefilled with today’s ~30-yr average (6.698%, 2026-08-21) from our live rate board — edit it freely.
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What your monthly payment includes (PITI)
A mortgage payment is usually four things — Principal, Interest, Taxes, and Insurance. This calculator adds two more when they apply: PMI (private mortgage insurance, typically required when your down payment is under 20% / LTV above 80%) and any HOA dues — so the number you see is the true all-in monthly cost, not just principal & interest.
How amortization works
Each month, interest is charged on your remaining balance and the rest of the payment chips away at the principal. Early in the loan almost all of your payment is interest; over the years the split flips toward principal. The year-by-year table above shows exactly how that shift happens and how fast the balance falls — a longer term means a lower payment but far more total interest.
“How much house can I afford?”
A common rule of thumb keeps your housing payment near 28% of gross monthly income (the “front-end” ratio). The estimate above shows the income that guideline implies for your payment — but it’s a rule of thumb, not a qualification. Real approval depends on your total debts, credit, reserves, and the loan program.
Why this one has no strings
Most “free” mortgage calculators are lead funnels — they hold your amortization behind an email, or push “get pre-approved” at every turn. RallyRates is a neutral publisher: we don’t originate, broker, or arrange loans, so this tool asks for nothing about you. Come for the calculator; if you’re shopping, our rate board is just as honest.