Mortgage Payment Calculator
Estimate your full monthly housing payment: principal and interest plus property tax, homeowners insurance, HOA dues and private mortgage insurance (PMI) when your down payment is under 20%.
Your numbers
- Principal & interest
- $2,023
- Property tax
- $367
- Insurance
- $150
- PMI
- $0.00
- Loan amount
- $320,000
- Total interest over loan
- $408,142
- Principal & interest$2,023
- Property tax$367
- Insurance$150
How the mortgage payment calculator works
Principal and interest use the standard amortization formula M = P·r / (1 − (1 + r)^−n), where r is the monthly rate and n the number of payments. Property tax and insurance are spread over 12 months. PMI is estimated as a percentage of the loan balance per year when the down payment is below 20%.
Example
Using the default inputs (Home price: $400,000; Down payment: 20%; Interest rate: 6.5%; Loan term (years): 30; Property tax rate (per year): 1.1%; …), the calculator returns total monthly payment of $2,539. Change any field above to see your own result and charts update instantly.
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Frequently asked questions
Does the payment include taxes and insurance?
Yes. The headline figure is PITI plus HOA and PMI, so it reflects what you would actually pay each month, not just principal and interest.
When does PMI go away?
Conventional PMI can be requested once your loan balance reaches 80% of the original home value and ends automatically at 78%. Use the PMI calculator to see when that happens.
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Estimates are for educational purposes only and are not financial, tax or legal advice. Results depend on your inputs and simplified assumptions; tax figures reflect 2026 federal rules and may differ from your situation. See our disclaimer. © 2026 FinanzCalc.