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Mortgage Calculator

Estimate your full monthly home payment — principal, interest, taxes, insurance, PMI, and HOA — with a clear breakdown chart, total interest, and payoff date. Edit every figure and the numbers update instantly.

SL
Written by Sam Larsson✓
Personal-finance writer · Reviewed by Priya Nair · Updated June 2026
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$
= $80,000 down · loan of $320,000
yrs
%
Include taxes & costs
Property taxesper year
Home insuranceper year
PMI insuranceper year
$
HOA feeper month
$
Other costsper year
$
Monthly payment
$2,547.62
79%P&I
Principal & interest79%
Property tax16%
Home insurance5%
Other costs0%
Payment breakdown
Monthly
Total
Mortgage payment
$2,022.62
$728,142.36
Property tax
$400.00
$144,000.00
Home insurance
$125.00
$45,000.00
Other costs
$0.00
$0.00
Total out-of-pocket
$2,547.62
$917,142.36
Loan summary
House price$400,000.00
Loan amount$320,000.00
Down payment$80,000.00
Total of 360 payments$728,142.36
Total interest$408,142.36
Payoff dateJun 2056

How to use the mortgage calculator

Every field is editable and the result, chart, and breakdown update as you type:

1
Enter the home price — the purchase price of the property.
2
Set the down payment — type a percentage or switch to a dollar amount with the $/% toggle — the loan amount updates beneath it.
3
Choose a term and rate — enter the loan term in years and the interest rate (or drag the rate slider).
4
Add taxes & costs — include property tax, home insurance, PMI, HOA, and other costs to see your true monthly out-of-pocket.

How the payment is calculated

The principal-and-interest part comes from the standard amortization formula. P is the loan amount, r is the monthly rate (annual ÷ 12), and n is the number of monthly payments (years × 12):

M = P × [ r(1+r)n ] ÷ [ (1+r)n − 1 ]
Monthly total = M + tax + insurance + PMI + HOA + other

Worked example. A $400,000 home, 20% down ($80,000), at 6.5% over 30 years:

Loan amount — $400,000 − $80,000$320,000.00
Principal & interest (the formula above)$2,022.62
+ Property tax (1.2%/yr) & insurance ($1,500/yr)$525.00
Monthly payment$2,547.62

Over the full 30-year term that loan costs about $408,142.36 in interest — which is why a small rate change moves the total so much.

What's included in the payment

The chart splits your monthly payment into four slices. Lenders call the first four costs PITI — this calculator adds PMI and HOA on top:

Principal & interest
Repaying the loan plus the lender's interest charge. Mostly interest at first, mostly principal later.
Property tax
Set by your local area; we estimate 1.2% of the price per year unless you change it.
Home insurance
Homeowners coverage, entered as a yearly dollar amount or a percent of the price.
Other costs
PMI (if your down payment is under 20%), HOA dues, and any other monthly costs you add.

Monthly payment table

Principal & interest on a $320,000 loan, by rate and term (taxes and costs not included):

Rate
15-year
30-year
5%
$2,530.54
$1,717.83
6%
$2,700.34
$1,918.56
6.5%
$2,787.54
$2,022.62
7%
$2,876.25
$2,128.97
8%
$3,058.09
$2,348.05

Frequently asked questions

A full payment is often called PITI: Principal, Interest, property Taxes, and homeowners Insurance. This calculator also lets you add PMI, HOA dues, and any other monthly costs, and shows how each slice contributes to the total.