Mortgage Calculator
Estimate your full monthly mortgage payment including principal, interest, taxes, insurance, and HOA. Enter your price, down payment, and rate.
| Monthly breakdown | Amount |
|---|---|
| Principal & interest | $2,022.62 |
| Property tax | $366.67 |
| Home insurance | $150.00 |
| HOA dues | $0.00 |
| Total monthly payment | $2,539.29 |
Estimate. Excludes PMI (often required under 20% down) and closing costs. For the full payoff schedule, see our mortgage amortization calculator.
How to use this calculator
Enter the home price, down payment, interest rate, and term, plus your property tax rate, annual insurance, and any HOA dues. The result is your full estimated monthly payment with a line-by-line breakdown.
How mortgage payments work
The principal-and-interest portion is fixed for a fixed-rate loan, while taxes and insurance are typically collected monthly into an escrow account and can change over time. Together these make up your total housing payment.
Worked example
A $400,000 home with $80,000 down at 6.5% over 30 years has about $2,023 in principal and interest; adding ~1.1% property tax and insurance brings the total near $2,560/month.
Estimate only, not a loan offer. PMI and closing costs are not included.
Frequently asked questions
What is included in a monthly mortgage payment?
A typical payment has four parts, called PITI: principal, interest, property taxes, and homeowners insurance. HOA dues and PMI may add to it. This calculator includes all of these except PMI.
How much should my down payment be?
20% down avoids private mortgage insurance (PMI) and lowers your loan. Many buyers put down less, but expect PMI until you reach about 20% equity.
What is PITI?
PITI stands for principal, interest, taxes, and insurance — the core components of a monthly mortgage payment lenders use to assess affordability.
Does this include PMI?
No. If your down payment is under 20%, lenders usually require PMI, which can add roughly 0.3–1.5% of the loan per year. Factor that in separately when putting less than 20% down.