Mortgage payment calculator
Enter a home price and down payment to see the full monthly cost, not only the loan payment.
Taxes, insurance, and dues
Estimated monthly payment
- Principal and interest
- $2,023
- Property taxes
- $400
- Home insurance
- $125
- Mortgage insurance
- $0
- HOA dues
- $0
- Loan amount
- $320,000
- Total interest over 30 years
- $408,142
Educational estimate only. Not a rate quote, loan offer, or approval. Rates shown are assumptions you can edit. Your numbers stay in your browser.
How this calculator works
The loan payment uses the standard fixed-rate formula: the loan amount (price minus down payment), the monthly interest rate, and the number of monthly payments. That figure stays the same for the life of a fixed-rate loan.
Property taxes and homeowners insurance are entered per year and divided by twelve. Many lenders collect them with the loan payment through an escrow account. Mortgage insurance and HOA dues are entered per month.
Property taxes vary widely by county and school district. Look up the actual tax rate for the address you are considering; a statewide average can be off by a large amount.
Common questions
What is included in a mortgage payment?
Most payments have four parts, often called PITI: principal, interest, property taxes, and homeowners insurance. Depending on the loan and the home, mortgage insurance and HOA dues are added on top.
Do I need mortgage insurance?
Conventional loans usually require private mortgage insurance when the down payment is under 20%. FHA loans carry their own mortgage insurance premium. The cost depends on the loan type, down payment, and credit profile, so ask your loan officer for an estimate to enter here.
Why is my real payment different from this estimate?
Tax and insurance bills change from year to year, and a lender quote reflects your actual rate, loan program, and escrow setup. Use this as a planning number and compare it with an official Loan Estimate.
Does this include maintenance and utilities?
No. Budget separately for repairs, utilities, and upkeep. A common rule of thumb is to set aside about 1% of the home’s value each year for maintenance.
A loan officer can walk through them with you. It costs nothing to ask.