Mortgage Payment Calculator
Calculate your full monthly payment — principal, interest, taxes, insurance, and PMI — with a complete amortization schedule.
Your Mortgage Details
Fill in your loan information to see your payment breakdown.
Additional Monthly Costs
Enter your details
Fill in the form and click "Calculate Payment" to see your full payment breakdown and amortization schedule.
How to use this calculator
This mortgage payment calculator gives you a complete picture of your monthly costs — not just the principal and interest, but also the property taxes, homeowner's insurance, HOA dues, and private mortgage insurance (PMI) that lenders typically require.
Step 1: Enter your home price and down payment
Start with the purchase price and how much you plan to put down. The calculator will show you your loan-to-value ratio (LTV), which determines whether you'll need PMI and affects the rates lenders offer you.
Step 2: Set your interest rate and loan term
Enter the annual interest rate you've been quoted (or use our current rates page as a starting point). The 30-year term is most common, but a 15-year loan builds equity faster and costs significantly less in interest.
Step 3: Add taxes, insurance, and HOA
Your true monthly housing payment includes more than P&I. Property taxes vary widely by location — a rough estimate is 1–2% of home value per year. Homeowner's insurance is typically $800–$2,000/year. Check your HOA documents for any monthly dues.
💡 Quick Rule of Thumb
Keep your total monthly housing payment (PITI) below 28% of your gross monthly income. Your total debt payments including the mortgage should stay below 43% for most conventional loans.
What is PMI?
Private Mortgage Insurance is required when your down payment is less than 20%. It typically costs 0.5%–1.5% of the loan amount per year and can be removed once you reach 20% equity. Use our PMI calculator for more detail.