A mortgage payment usually bundles principal, interest, tax and insurance (PITI). A larger down payment lowers the amount borrowed and the total interest.
Mortgage Calculator
Monthly mortgage payment including taxes and insurance.
How it works
Payment = principal & interest + (annual tax + annual insurance) ÷ 12
Frequently asked questions
Why is a lender quote higher?
They may add mortgage insurance, HOA dues or escrow; this covers core PITI.