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Home & Mortgage

Mortgage Calculator

Estimate your full monthly mortgage payment — principal, interest, property tax, home insurance, and PMI — not just the part lenders quote first.

Home & loan

Estimate your full monthly payment, not just principal and interest.

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$80,000 down

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Loan term
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% of home value

Your monthly payment

Estimated monthly payment

$2,539.29

on a $320,000 loan · $80,000 down (20%)

Principal & interest$2,022.62
Property tax$366.67
Home insurance$150.00
Total monthly payment$2,539.29

Total interest (life of loan)

$408,142

Total of all payments

$808,142

The payment lenders quote isn't the whole payment

Ads and pre-approvals usually show principal and interest only. But your real monthly cost also includes property tax, homeowners insurance, and — if you put down less than 20% — PMI. This calculator adds every piece so you can budget for the number that actually leaves your account.

How much house can this become?

Small changes compound. A quarter-point lower rate, a bigger down payment, or a 15-year term each meaningfully change both the monthly payment and the total interest. Adjust the inputs and watch the breakdown update.

Example

A $400,000 home with 20% down at 6.5% over 30 years is about $2,020 in principal and interest — but closer to $2,700 all-in once taxes and insurance are added. Over the full term, interest alone tops $250,000.

Plan the whole purchase

Check what price fits your income with the affordability calculator, budget for closing costs, and if you already own, see whether a lower rate pays off with the refinance calculator. Want the full payment breakdown month by month? Use the amortization schedule.

Related calculators

Home Affordability CalculatorThe home price your income and debts can support.Refinance CalculatorBreak-even point and lifetime savings from refinancing your mortgage.PMI CalculatorWhat private mortgage insurance costs and when it drops off.Closing Cost CalculatorEstimate the upfront fees to close on a home purchase.

Frequently asked questions

What’s included in a monthly mortgage payment?
Four parts, often called PITI: principal, interest, taxes, and insurance. If your down payment is under 20%, add PMI. HOA dues, if any, are on top. This calculator adds them all so you see the real number.
How much should my down payment be?
20% avoids PMI and lowers your payment, but many buyers put down less. FHA loans allow as little as 3.5%, and some conventional loans go to 3%. A larger down payment means a smaller loan and less interest overall.
What is PMI and when does it go away?
Private mortgage insurance protects the lender when you put down less than 20%. It typically cancels automatically once you reach 22% equity, or you can request removal at 20%. This tool includes PMI only while your down payment is under 20%.
Should I choose a 15- or 30-year mortgage?
A 15-year loan has a higher monthly payment but a much lower rate and far less total interest. A 30-year loan is more affordable monthly but costs more over time. Toggle the term above to compare.