Homeowner tool
Mortgage Calculator
Estimate a complete monthly payment — not just principal and interest, but the taxes, insurance, and mortgage insurance that make up the real number.
Loan details
- Principal and interest—
- Property taxes—
- Homeowners insurance—
- Mortgage insurance—
- HOA dues—
- Loan amount—
- Down payment—
- Total interest over the term—
- Total of all payments—
Estimates are for educational planning only and are not an offer of credit, a quote, or financial advice. Actual figures depend on your lender, credit profile, loan program, location, and current market conditions. Property tax rates, insurance premiums, and mortgage insurance costs vary widely. Confirm all numbers with a licensed lender before making a decision. PMI is estimated at 0.6% of the loan amount annually when the down payment is below 20% and is not included once you reach 20% down.
How this calculator works
- Principal and interest use the standard amortization formula for a fixed-rate loan.
- Property taxes are calculated from the annual rate you enter, divided by twelve.
- Private mortgage insurance is estimated at 0.6% of the loan amount per year when your down payment is under 20%. Real PMI pricing depends heavily on credit score.
- Escrowed amounts change over time as tax assessments and insurance premiums change.
Frequently asked questions
What is included in a mortgage payment?
Principal, interest, property taxes, homeowners insurance, and — if your down payment is under 20% on a conventional loan — mortgage insurance. HOA dues are paid separately but belong in your budget.
Why is my payment higher than the principal and interest?
Taxes and insurance are typically escrowed and collected monthly with the payment. They commonly add 25 to 30 percent on top of principal and interest.
Disclaimer. Estimates are for educational planning only and are not an offer of credit, a quote, or financial advice. Actual figures depend on your lender, credit profile, loan program, location, and current market conditions. Property tax rates, insurance premiums, and mortgage insurance costs vary widely. Confirm all numbers with a licensed lender before making a decision.