Mortgage Calculator
Estimate your full monthly mortgage payment, including tax, insurance and PMI.
What is the Mortgage Calculator?
This calculator estimates your full monthly mortgage payment — not just principal and interest, but also property tax, home insurance, PMI and HOA fees, the pieces that make up what most homeowners actually pay each month (sometimes called "PITI").
How it differs from a generic loan calculator
A basic loan payment calculator gives you principal and interest only. A mortgage payment in practice usually also includes property tax and homeowners insurance (often collected monthly into an escrow account by the lender), private mortgage insurance (PMI, typically required when your down payment is below a certain threshold, commonly 20% in the US, though this varies by lender and loan type), and HOA fees where applicable. This calculator adds all of those on top of the standard amortization math.
The formula
Principal & interest uses the standard amortization formula M = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is your loan amount (home price minus down payment), r is the monthly interest rate, and n is the number of monthly payments. Annual property tax and insurance are divided by 12 and added to the monthly total; PMI and HOA are entered directly as monthly amounts since they don't follow a standard formula and vary by lender, location and policy.
How to use it
- Enter the home price and your down payment (as a percentage or a flat amount).
- Enter your interest rate and loan term.
- Optionally add annual property tax, annual insurance, monthly PMI and monthly HOA fees for a full monthly payment estimate.
- Expand the amortization panel to see how the first 12 principal-and-interest payments break down.
This is a planning estimate; exact tax rates, insurance premiums, PMI rates and lender fees vary by location and lender, so confirm final numbers with your mortgage provider.