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Mortgage Calculator

Enter the home price, your down payment, the loan term and the interest rate to see the full monthly house payment. Add property tax, home insurance, PMI and HOA dues to get the number that actually leaves your account, not just principal and interest.

Quick examples
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Percent of the loan. Only charged when the down payment is under 20%.

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Your numbers stay in your browser. Nothing is uploaded.
Total monthly payment$2,572.62
Principal & interest
$2,022.62
Property tax
$400.00
Home insurance
$150.00
PMI
$0.00
HOA dues
$0.00
Loan amount
$320,000.00
Total interest over the loan
$408,142.36
Where the monthly payment goes
  • Principal & interest
  • Property tax
  • Insurance
  • PMI
  • HOA
Amortization by year (principal and interest only)
PeriodPrincipalInterestBalance

Saved setups

Save a set of inputs you reuse — your usual rate, your loan, your room sizes — and load it back in one tap.

    Your recent calculations

    Results you calculate here are kept on this device so you can come back to them.

      Formula

      Loan amount = home price − down payment
      Principal & interest = loan × r ÷ (1 − (1 + r)^−n), with r = rate ÷ 12 and n = years × 12
      PMI per month = loan × PMI rate ÷ 12, charged only when the down payment is under 20%
      Monthly payment = principal & interest + property tax ÷ 12 + insurance ÷ 12 + PMI + HOA

      How to use it

      1. Enter the purchase price and your down payment as a percentage or a dollar amount.
      2. Pick the term and enter the rate from your lender’s quote.
      3. Fill in yearly property tax and insurance, and monthly HOA dues if any.
      4. Read the total; the bar shows how much of it is loan repayment versus taxes, insurance and fees.

      Worked examples

      A $400,000 home with 20% down, 30 years at 6.5%, $4,800 tax and $1,800 insurance a year

      Total monthly payment
      $2,572.62
      Principal & interest
      $2,022.62
      Property tax
      $400.00
      Home insurance
      $150.00
      PMI
      $0.00
      Loan amount
      $320,000.00
      Total interest over the loan
      $408,142.36

      A $300,000 home with 5% down, so PMI applies

      Total monthly payment
      $2,345.14
      Principal & interest
      $1,801.39
      Property tax
      $300.00
      Home insurance
      $125.00
      PMI
      $118.75
      Loan amount
      $285,000.00
      Total interest over the loan
      $363,501.79

      A $250,000 condo with $50,000 down on a 15-year loan at 6% and $250 HOA

      Total monthly payment
      $2,287.71
      Principal & interest
      $1,687.71
      PMI
      $0.00
      HOA dues
      $250.00
      Loan amount
      $200,000.00
      Total interest over the loan
      $103,788.46

      30-year versus 15-year

      On a $320,000 loan at 6.5%, a 30-year term costs $2,022.62 a month in principal and interest and $408,142 in interest over the life of the loan. A 15-year term at the same rate costs $2,787.54 a month but only $181,758 in interest. In practice 15-year rates are usually lower as well, which widens the gap.

      PMI and escrow

      Private mortgage insurance is normally required on conventional loans with less than 20% down and typically runs from about 0.3% to 1.5% of the loan per year depending on credit score and down payment. Under the federal Homeowners Protection Act you can ask for it to be removed when the balance reaches 80% of the home’s original value, and it ends automatically at 78%.

      Most lenders collect property tax and insurance monthly into an escrow account and pay the bills for you, which is why they belong in the payment. Tax and insurance bills change every year, so the payment on a fixed-rate loan can still move. This is an estimate, not a loan offer.

      Questions people ask

      What is the monthly payment on a $400,000 house?

      With 20% down, a 30-year loan at 6.5%, $4,800 of property tax and $1,800 of insurance a year, it is $2,572.62 a month: $2,022.62 of principal and interest, $400 of tax and $150 of insurance.

      How much does each $1,000 borrowed cost per month?

      At 6.5% over 30 years, $6.32 per $1,000. So a $300,000 loan is $1,896.20 a month in principal and interest. At 7% it is $1,995.91 and at 6% it is $1,798.65.

      How much does PMI add?

      On a $285,000 loan (5% down on $300,000) at a 0.5% PMI rate it adds $118.75 a month until you reach 20% equity.

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