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Home Financing
Mortgage Calculator: Monthly Payment, PMI, Taxes and Interest
Estimate a full monthly mortgage payment with principal, interest, property tax, insurance, PMI, HOA, extra payments, payoff time, and amortization details.
Home purchase assumptions
Optional housing DTI estimate.
Full monthly payment
$0
Principal & interest
$0
Estimated total interest
$0
Housing DTI
0%
Enter mortgage details to estimate the full monthly housing payment.
| Year | Payments | Principal | Interest | Ending balance |
|---|
Monthly payment includes
- Principal and interest
- Property tax and homeowners insurance
- PMI when down payment is under 20%
- HOA and optional extra principal
Budget note
Lenders often compare housing payment with gross monthly income. Keeping the housing ratio manageable can leave more room for repairs, savings, and other goals.
What the mortgage result includes
Use this calculator when you want more than principal and interest. It estimates the common parts of a real housing payment.
- Principal and interest from the fixed-rate mortgage formula.
- Property tax, homeowners insurance, HOA, and PMI when down payment is under 20%.
- Extra monthly principal payments and the possible interest savings.
Mortgage formula
The core payment uses the standard amortization formula, then adds recurring homeownership costs.
- Payment = P x r / (1 – (1 + r)^-n).
- P is loan amount, r is monthly interest rate, and n is total monthly payments.
- Total payment = principal and interest + taxes + insurance + PMI + HOA.
Planning tips
Small changes in rate, down payment, PMI, or taxes can change affordability quickly.
- Compare 15-year and 30-year terms before choosing.
- Test a larger down payment to see whether PMI disappears.
- Use extra payments only after checking emergency savings and other debt.
Related finance calculators
These tools help compare housing, debt, savings, and take-home pay.
Mortgage Calculator FAQ
How do I calculate a mortgage payment?
Use the fixed-rate loan formula for principal and interest, then add property tax, homeowners insurance, PMI, HOA, and other monthly costs.
Does this mortgage calculator include PMI?
Yes. It estimates PMI when the down payment is below 20%, but real PMI depends on lender, credit profile, loan type, and market conditions.
What is included in monthly house payment?
A common estimate includes principal, interest, property tax, homeowners insurance, PMI if required, HOA fees, and any extra principal payment.
How do extra mortgage payments help?
Extra principal payments reduce the loan balance faster, which can shorten the payoff time and lower total interest.
Is this mortgage calculator a lender quote?
No. It is a planning estimate. A lender quote may include exact escrow, points, closing costs, program fees, and local tax details.
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