Mortgage Payment Calculator
Get your complete monthly payment estimate — including taxes, insurance, and PMI — in seconds.
Loan Details
Payment Summary
- Principal & Interest —
- Property Tax —
- Home Insurance —
- HOA —
- PMI —
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Compare Rates from Lenders →How to Use This Mortgage Calculator
Enter your home price, down payment, loan term, and interest rate to see your estimated monthly payment. The calculator automatically adds property tax, homeowners insurance, HOA fees, and PMI (if your down payment is under 20%) to give you a realistic total.
What Is Included in Your Monthly Payment?
Principal & Interest — The core loan payment, calculated using the standard amortization formula. This stays fixed for the life of your loan (on a fixed-rate mortgage).
Property Tax — Typically 0.5%–2% of your home's value annually, depending on your state and county. The default ($4,800/yr) is an estimate — check your county assessor's website for an accurate rate.
Homeowners Insurance — Usually $800–$1,500/yr for most homes. Your lender requires this.
PMI (Private Mortgage Insurance) — Required when your down payment is less than 20%. Once you reach 20% equity, you can request PMI removal.
What's a Good Interest Rate Right Now?
Mortgage rates change daily. For the most accurate rate, get a quote from at least 3 lenders — even a 0.25% rate difference saves thousands over the life of a loan.
How Much House Can I Afford?
A common rule: your total monthly housing payment (PITI) should be no more than 28% of your gross monthly income. Use our Amortization Calculator to see the full 30-year picture, or our Rent vs Buy Calculator if you're still deciding.
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