Mortgage Calculator

Estimate your total monthly mortgage payment — principal & interest, property taxes, homeowners insurance, PMI and HOA — and see the full cost of your loan over time.

Home price

Down payment (%)

Interest rate (% / yr)

Loan term

Property tax (% of home value / yr)

Home insurance ($ / yr)

HOA fees ($ / mo)

Total monthly payment

—

Principal & interest—

Property tax—

Home insurance—

PMI—

HOA—

Loan amount—

Total interest paid—

Total cost of loan—

P&I Tax Insurance PMI HOA

PMI (0.55%/yr of loan) is applied automatically when the down payment is below 20%.

Amortization schedule (yearly)

How your mortgage payment is calculated

The principal & interest portion uses the standard fixed-rate mortgage formula: M = P × r(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r the monthly interest rate, and n the number of monthly payments. Property tax, insurance, PMI and HOA are added on top to give your true monthly housing cost.

FAQ

What is PMI and when do I pay it?

Private Mortgage Insurance is typically required when your down payment is under 20%. It usually costs 0.3%–1.2% of the loan per year and can be removed once you reach 20% equity.

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

A 15-year loan carries a higher monthly payment but dramatically lower total interest. Toggle the term above to compare the total cost of loan figure.