Mortgage Calculator
Free mortgage calculator. Estimate your monthly house payment including principal, interest, property tax, home insurance, PMI and HOA — with a full breakdown. Runs in your browser.
- Principal & interest$2,128.97
- Property tax$400.00
- Home insurance$150.00
Estimates for planning only. Actual rates, taxes, insurance, and PMI vary by lender and location.
Estimate your real monthly house payment
Most mortgage calculators only show principal and interest — which badly understates what you’ll actually pay. This mortgage calculator adds property tax, home insurance, PMI and HOA so you see the realistic total, with a colour-coded breakdown of where each dollar goes.
How to use it
- Enter the home price and your down payment (the percentage updates automatically).
- Set the interest rate and term (usually 30 or 15 years).
- Add annual property tax, home insurance, any HOA fee, and a PMI rate.
- Read your estimated monthly payment and the breakdown bar beneath it.
The 20% down payment line
Putting down 20% or more avoids PMI (private mortgage insurance), which can add a meaningful amount to your monthly cost. Below 20%, this calculator adds PMI automatically so your estimate is honest. Slide the down payment up and down to see exactly where PMI switches off and how much it saves you.
Principal & interest is only part of it
The pure loan portion behaves like any amortizing loan — see our loan calculator for the amortization schedule and total interest over the life of the loan. Planning your budget around a new job? Our pay stub generator documents income for your records.
Frequently asked questions
What's included in the monthly mortgage payment?
A full house payment is often called PITI: Principal, Interest, Taxes and Insurance. This calculator adds all four, plus PMI (private mortgage insurance) when your down payment is under 20%, and any HOA fee. The result is a realistic total monthly cost, not just principal and interest.
When do I have to pay PMI?
Lenders typically require private mortgage insurance when your down payment is less than 20% of the home price. This calculator adds PMI automatically below 20% down and removes it at 20% or above. PMI usually falls off once you build 20% equity.
How much should my down payment be?
20% avoids PMI and lowers your monthly payment, but many buyers put down less. Try different down-payment amounts here and watch how the monthly payment and PMI change — the calculator shows your down-payment percentage as you adjust it.
Are property tax and insurance really part of the payment?
Usually yes. Most lenders collect property tax and homeowners insurance monthly through an escrow account and pay them on your behalf, so they're part of what you pay each month. Enter your annual amounts and the calculator converts them to monthly.
Is this an official quote?
No — it's an estimate for planning. Your actual rate, taxes, insurance and PMI depend on the lender, your credit, and your location. Everything runs in your browser and nothing is uploaded.