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Mortgage Calculator

Estimate your full monthly mortgage payment — not just principal and interest, but property taxes, insurance, PMI, and HOA too — so you see the real cost of owning.

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$
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$0 / month
Principal & interest
$0
Property tax
$0
Home insurance
$0
PMI
—
HOA
$0
Loan amount
$0
Total interest over loan
$0

How the mortgage calculator works

Your payment is built from four pieces, often abbreviated PITI: Principal and Interest (calculated from your loan amount, rate, and term using a standard amortization formula), property Taxes, and homeowners Insurance. We also add PMI when your down payment is below 20%, plus any HOA dues, because those are real costs you'll pay every month.

Why the full payment matters

Many buyers budget only for principal and interest, then get surprised by the real bill. Taxes, insurance, and PMI can add hundreds of dollars a month. Seeing the complete number up front keeps you from buying more house than you can comfortably afford.

Tips

  • Hit 20% down to skip PMI entirely — or plan to remove PMI once you reach 20% equity.
  • Check your local tax rate. Property taxes vary widely by location and materially change the payment.
  • Compare the loan, not just the payment. A longer term lowers the payment but raises total interest.

Next steps: find your price ceiling with the Home Affordability Calculator, weigh terms in 15- vs. 30-Year Mortgage, and see if refinancing helps with the Mortgage Refinance Calculator. New to rates? Read What Is APR?

Frequently asked questions

What's included in a monthly mortgage payment?
Most payments have four parts, known as PITI: Principal and Interest (the loan itself), property Taxes, and homeowners Insurance. If your down payment is under 20%, add PMI (private mortgage insurance), and if you're in a managed community, HOA dues. This calculator adds them all up.
What is PMI and how do I avoid it?
PMI protects the lender, not you, and is usually required when you put down less than 20%. It typically costs around 0.3%–1.5% of the loan per year. You can avoid it by putting 20% down, and on most loans it can be removed once you reach 20% equity.
How much of my income should go to a mortgage?
A common guideline is to keep your total housing payment at or below about 28% of your gross monthly income (the front-end ratio). To see the maximum price that fits your income and debts, use our Home Affordability Calculator.

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