mortgage calculator
estimate your total monthly mortgage payment, including property tax, insurance, hoa fees and pmi, plus a full amortization table.
runs on your device · free · no sign-up
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how to mortgage calculator
- enter the home price, down payment (in dollars or percent), interest rate and loan term.
- add yearly property tax, insurance, any hoa fees and the pmi rate quoted to you.
- type an extra monthly payment to see how much interest and time it saves.
- tick compare two scenarios to set a second loan, such as 15 years instead of 30.
- read the monthly payment, the balance chart and the amortization schedule, then copy the share link if you want to send it.
the principal and interest part of a mortgage payment is fixed for the whole term on a fixed-rate loan. what changes is the split: early payments are mostly interest, and the balance falls slowly at first, which is visible in the chart. that is why extra payments made in the first years have the biggest effect on total interest.
taxes, insurance and hoa are not part of the loan, but lenders count them in your monthly cost. property tax varies a lot by county, often from under 0.5% to over 2% of the price per year. use the figure from the listing or your county site rather than the default here.
pmi is typically between about 0.3% and 1.5% of the loan per year depending on your credit score and down payment. it ends when the balance reaches 80% of the home price on conventional loans; fha loans and some others work differently, so check your loan terms. this is an estimate, not a loan offer.
features
- monthly payment with property tax, insurance, hoa and pmi
- pmi that drops off automatically at 80% of the home price
- extra monthly payments with interest and time saved
- two scenarios side by side with a comparison table
- balance-over-time chart and a year-by-year or month-by-month amortization table
- share link that keeps your inputs in the address
popular uses
frequently asked questions
what is included in the monthly payment?
principal and interest on the loan, plus property tax and homeowners insurance spread over 12 months, optional hoa fees, and pmi if your down payment is under 20%.
when does pmi apply?
private mortgage insurance is usually required when you put down less than 20%. this calculator charges it at the yearly percentage you enter, on the original loan amount, until the balance falls to 80% of the home price, then drops it.
is this a loan offer?
no. it is an estimate for planning only. real rates, taxes and insurance depend on your lender and location.
how much do extra payments save?
every extra dollar goes to principal, so interest stops accruing on it. on a 320,000 loan at 6.5% over 30 years, paying 200 extra per month saves about 105,000 in interest and ends the loan roughly 6 years and 7 months early.
should i compare a 15-year and a 30-year loan?
the shorter loan has a higher payment but a lower rate and far less interest. tick compare two scenarios, set one to 15 years and one to 30 and look at the monthly payment against total interest. lenders quote their own rates, so enter the ones you were offered.
how are property tax and insurance estimated?
property tax is a percent of the home price per year and insurance is a yearly dollar amount, both divided by 12. both change over time in real life, and many lenders hold them in escrow and adjust the payment once a year.