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    Mortgage Payment Calculator

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    Estimate monthly mortgage payments including interest, taxes, insurance, HOA and PMI, with a simple amortization view.

    $
    %
    yrs
    %

    Taxes, Insurance & Fees

    %
    $
    $
    %

    $100.00Estimated monthly payment

    Payment breakdown

    Principal & Interest    $0.00
    Property Tax    $0.00
    Home Insurance    $100.00

    Loan amount

    $0.00

    Total interest paid

    $0.00

    Total cost of loan (Principal + Interest)

    $0.00

    What-if scenarios

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    About this calculator

    This calculator provides an estimate of your total monthly mortgage obligations. It is designed to estimate the full PITI (Principal, Interest, Taxes, Insurance) plus additional common fees, to help you anticipate your actual housing costs before making a financial commitment.

    How this differs from similar calculators:

    Many calculators only show your basic Principal and Interest (P&I) payment. This calculator is explicitly designed to include commonly overlooked costs like PMI, HOA fees, property taxes, and home insurance, while providing a clear breakdown of where your money goes each month.

    • Principal & Interest: Calculated using a standard loan amortization formula to determine exactly how much of your payment reduces your actual debt.
    • PMI logic: Private Mortgage Insurance is automatically applied if your down payment is less than 20% of the home price, as this is a standard requirement for most conventional loans.
    • Total cost view: The "Total interest paid" metric shows how much the loan costs you over its entire life, helping illustrate the long-term impact of interest rates and term lengths.

    Glossary Terms

    APRAmortizationPMI

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    Common Questions (FAQ)

    Does this calculator include closing costs?

    No. This tool focuses exclusively on your recurring monthly payment and the total interest paid over the life of the loan. Closing costs are typically paid upfront at the time of purchase and vary significantly by location and lender.

    How accurate is the PMI estimate?

    The PMI rate varies based on your credit score, loan type, and down payment amount. The calculator defaults to a common average (0.5% annually), but you can adjust this rate. It helps illustrate the general impact PMI has on your monthly budget.

    Why do property taxes vary so much?

    Property taxes are set by local municipalities and counties. This calculator is commonly used to see how changing tax rates affect affordability across different neighborhoods.

    Should I choose a 15-year or 30-year loan?

    This depends on your financial goals. A 15-year loan typically offers a lower interest rate and results in far less total interest paid, but the monthly payment will be higher. A 30-year loan provides a lower monthly payment, but costs more in total interest. The calculator helps illustrate these trade-offs.

    Does my interest rate change over time?

    This calculator assumes a Fixed-Rate Mortgage, meaning the interest rate remains the same for the entire duration of the loan. If you are considering an Adjustable-Rate Mortgage (ARM), future payments will change depending on market rates.

    Browse tools commonly used for real estate & mortgages →
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    Common Scenarios

    Before-tax vs after-tax implications

    When deciding on financial moves, always calculate based on your after-tax take-home pay, not your gross salary. Your true disposable income is often 20-30% lower than your top-line earnings.

    Factoring in debt obligations

    Treat your minimum monthly debt payments (credit cards, student loans) as fixed expenses. They reduce your monthly surplus and limit your flexibility for other purchases or goals.

    Common Questions

    How accurate is this mortgage payment estimate?

    It provides a reliable baseline estimate. However, real-world variables like unexpected expenses, tax rate changes, and inflation can impact the exact outcome.

    Does this account for irregular expenses?

    No. This tool focuses on your standard monthly or annual figures. You should manually add a buffer for irregular or annual expenses.

    What should I do if the numbers look tight?

    If your results show high strain, consider lowering your purchase target, extending your timeline, or finding ways to boost your income or cut discretionary spending temporarily.

    Explore Related Tools & Guides

    Read the Mortgage Payment GuideBrowse the Resources Directory

    Disclaimer: Estimates only. Not financial advice. Property taxes and insurance rates vary wildly by location and provider. Use this tool to help guide your thinking, not to make absolute financial commitments.