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Mortgage Calculator
Home price, down payment, rate, and term produce one number everybody wants — the monthly payment — but that figure is usually quoted as principal and interest alone, leaving out taxes, insurance, PMI, and HOA dues that show up on the actual bill every month. This totals all five, shows the full amortization schedule, and splits total interest from total principal over the life of the loan.
Results
Enter a home price to see your monthly payment.
Home & down payment
Home price is what you're paying for the house; the loan amount is what's left after your down payment.
Down payments under 20% of the home price typically require PMI — see the PMI field below.
0.0% of home price
Loan terms
30 years is the most common U.S. mortgage term — shorter terms carry a smaller total interest bill but a larger monthly payment.
Loan term
Property tax & insurance
Property tax is entered as a yearly percent of the home price, since rates vary by county — check your local rate for an accurate figure.
of home price, per year
per year
PMI & HOA
PMI (private mortgage insurance) is only charged when the down payment is under 20% of the home price, as a yearly percent of the loan amount.
HOA dues are a flat monthly fee some homes carry — enter $0 if yours doesn't have one.
of loan amount, per year
per month
How this is calculated
For educational purposes only. Results are estimates and do not constitute financial, tax, or legal advice. Consult a qualified professional before making any financial decisions.
How to use it
Start with the home price and down payment, then pick a loan term and enter the interest rate you've been quoted.
Fill in property tax, insurance, and any HOA dues for the full picture — most quoted mortgage payments only cover principal and interest, which understates what actually leaves your account every month.
Try raising the down payment past 20% of the home price and watch the PMI line disappear — that's the single biggest lever most buyers have over their monthly payment besides the rate itself.
Assumptions
- The interest rate is treated as a fixed rate for the whole loan term — this isn't built for adjustable-rate mortgages, whose payment changes after an initial period.
- PMI is charged as a flat percent of the loan amount whenever the down payment is under 20% of the home price, and assumed to run for the whole term modeled — in practice it's usually cancellable once the balance falls to 78–80% of the original home value.
- Property tax and insurance are held constant for the full term, though both typically rise over time with reassessments and renewals.
- Closing costs, maintenance, and any points paid to buy down the rate aren't included — this covers the recurring monthly payment only.
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