Mortgage Payment Calculator
Estimate your full monthly mortgage payment, including principal, interest, property taxes, homeowners insurance, PMI, and HOA dues.
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Your total mortgage payment is typically made up of four parts, often called PITI: principal and interest (the loan itself), property taxes, and homeowners insurance, both usually collected through an escrow account. If you put down less than 20% on a conventional loan, private mortgage insurance (PMI) is added until you build enough equity. HOA dues, if applicable, are separate from your loan but factor into your total housing cost.
How to Use This Calculator
- Down Payment — below 20% triggers PMI on a conventional loan. Try adjusting this to see how it changes your total payment.
- Property Tax and Insurance — entered as annual percentages here since they scale with home price; use your county's actual rate for a more precise estimate.
Frequently Asked Questions
What's included in a typical monthly mortgage payment?
Principal, interest, property taxes, and homeowners insurance (PITI), plus PMI if your down payment is under 20% on a conventional loan, and HOA dues if the property has them.
How much should my down payment be?
It depends on your loan program and goals. Putting down 20% avoids PMI on a conventional loan, but many buyers put down less and accept PMI to purchase sooner rather than waiting to save a larger down payment.
Does this calculator show my exact payment?
It's a close estimate based on the figures you enter. Your exact payment depends on your actual interest rate, exact tax and insurance amounts, and underwriting factors specific to your loan.
