Estimate your monthly mortgage payment including principal, interest, property taxes, insurance, HOA, and PMI.
Based on standard fixed-rate amortization used by US lenders.
The mortgage payment calculator helps you understand the full monthly cost of owning a home — not just principal and interest, but the property taxes, homeowners insurance, HOA dues, and private mortgage insurance (PMI) that most buyers underestimate. Lenders use the same fixed-rate amortization formula to determine what they'll quote you. Plugging in your numbers before you talk to a loan officer puts you in a much stronger negotiating position.
Monthly P&I = P × r / (1 − (1 + r)^−n), where P is loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments (years × 12). Taxes, insurance, HOA, and PMI are added on top to estimate your full PITI payment.
On a $400,000 loan at 6.50% for 30 years, monthly principal and interest is about $2,528. Add $400 in property taxes, $120 in homeowners insurance, and $150 in HOA dues, and your true monthly cost is closer to $3,198. That's the number to compare against your take-home pay — not the principal and interest alone.
See the maximum home price you can responsibly afford based on income, debts, down payment, and current rates.
Calculate monthly savings, break-even point, and lifetime interest if you refinance your mortgage.
See how much interest and time you save by adding extra principal to your monthly mortgage payment.
Compare monthly payments and lifetime interest between a 15-year and 30-year mortgage at real rates.
Yes. You can add property tax, homeowners insurance, HOA, and PMI for a full PITI estimate. Leave them at zero for principal and interest only.
Use the rate quoted to you in writing. If you're still shopping, use the current national average for your credit profile and loan type.
PMI is generally required on conventional loans when your down payment is less than 20% of the home price, and it falls off once you reach 20% equity.
Lenders add discount points, origination fees, and lender-specific adjustments. This estimator gives you a clean baseline so you can spot quotes that are unusually high or low.
This calculator is for educational and estimation purposes only. It does not provide financial, mortgage, tax, investment, or legal advice. Actual rates, payments, taxes, fees, insurance costs, eligibility, and loan terms vary by lender, location, credit profile, and market conditions. Always compare official offers and consult a qualified professional before making financial decisions.
Last updated June 2026 · Prepared by the mCalculator Editorial Team