Mortgage Calculator
Calculate home loan payments with taxes and insurance. Get accurate monthly payment estimates including PMI, property tax, and HOA fees.
🏡Home Details
Home Price - Down Payment
📈Loan Terms
🏘️Monthly Costs
≈ $417/month
≈ $125/month
📊Payment Breakdown
💰Loan Summary
Includes all costs
💡Smart Tips
• Aim for 20% down to avoid PMI
• Monthly payment should be ≤28% of gross income
• Compare 15 vs 30 year terms
• Shop around for best interest rates
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✨ Key Features
Complete Cost Breakdown
See principal, interest, taxes, insurance, PMI, and HOA fees separately
Multiple Loan Terms
Compare 15, 20, and 30-year mortgage options instantly
Property Tax & Insurance
Include all homeownership costs for accurate monthly payments
PMI Calculator
Automatically calculates PMI when down payment is less than 20%
How to Use the Mortgage Calculator
Our comprehensive mortgage calculator helps you estimate monthly home loan payments including all costs. Enter your home price, down payment, interest rate, and loan term to see detailed payment breakdowns with taxes, insurance, and PMI.
Understanding Your Mortgage Payment
Principal & Interest (P&I): The main portion of your payment that goes toward paying down the loan amount and interest charges.
Property Tax: Annual property taxes divided by 12, typically 0.3-2.5% of home value depending on location.
Home Insurance: Required by lenders to protect the property, typically $1,000-2,000 annually for most homes.
PMI: Required when down payment is less than 20%, usually 0.5-1% of loan amount annually.
HOA Fees: Monthly fees for homeowner associations in condos or planned communities.
Mortgage Calculator Tips
Aim for 20% Down: Putting down 20% eliminates PMI and can secure better interest rates, saving thousands over the loan term.
Follow the 28/36 Rule: Your monthly housing costs should be no more than 28% of gross income, and total debt payments under 36%.
Compare Loan Terms: Use the calculator to compare 15-year vs 30-year mortgages and see how extra payments affect payoff time.
Shop for Rates: Even 0.25% difference in interest rate can save tens of thousands over 30 years.
Common Mortgage Scenarios
First-Time Buyer: $350K home, 5% down, 6.5% rate, 30 years = ~$2,500/month with PMI
20% Down Payment: $500K home, 20% down, 6% rate, 30 years = ~$2,900/month (no PMI)
15-Year Fast Payoff: $400K home, 20% down, 5.5% rate, 15 years = ~$3,200/month, saves $200K+ in interest