Free Tools
Mortgage Calculator
Estimate your all-in monthly payment in seconds. Adjust home price, down payment, rate, taxes, insurance, and more.
Loan Details
Est. Monthly Payment
$2,528
Loan amount: $320,000
This calculator provides estimates for educational purposes only. Results are not a Loan Estimate, pre-approval, or commitment to lend, and may not reflect taxes, insurance, HOA dues, or other costs. Contact a loan officer for an accurate quote.
How It Works
What Goes Into Your Monthly Payment
Your mortgage payment is more than just principal and interest. Here's every component the calculator accounts for.
P&I (Principal & Interest)
The core of your mortgage payment. The principal reduces your loan balance each month; interest is the lender's fee for the loan. Together, these are calculated using standard amortization.
Property Taxes
Collected monthly into escrow and paid annually to your local government. Rates vary by county — a 1% rate on a $400K home equals about $333/month.
Homeowners Insurance
Required by lenders, collected in escrow. The national average is roughly $1,200–$2,000/year, but premiums vary based on location, coverage, and home value.
PMI
Private Mortgage Insurance applies when your down payment is under 20%. It protects the lender — not you — and adds to your monthly cost until you reach 20% equity.
HOA Dues
If your home is in a planned community or condo, you'll likely pay Homeowners Association dues. These can range from $0 to over $1,000/month depending on the community.
Amortization
Early payments are mostly interest; later payments shift toward principal. Over time, each payment builds more equity. Use this calculator to see the full picture before you buy.
Calculator FAQ
Common Questions About Mortgage Payments
What does a mortgage calculator estimate?
Our calculator estimates your total monthly payment including principal & interest, property tax, homeowners insurance, HOA dues, and PMI (if your down payment is below 20%). It gives you a realistic picture of your all-in housing cost.
What is PMI and when do I pay it?
Private Mortgage Insurance (PMI) is required on conventional loans when your down payment is less than 20% of the home price. PMI typically costs 0.5%–1.5% of the loan amount per year and is removed once you reach 20% equity.
Does the calculator account for property taxes?
Yes. You can enter your estimated annual property tax rate (as a percentage of home value). The default is 1.1%, which is close to the national average, but rates vary significantly by county.
How accurate is this mortgage calculator?
The calculator provides estimates based on standard amortization math. Actual payments may differ based on your credit score, loan program, lender fees, local tax assessments, and insurance premiums. For a precise figure, get a personalized quote from a loan officer.
What loan term should I choose?
A 30-year term offers lower monthly payments and more cash flow flexibility. A 15-year term results in higher monthly payments but you build equity faster and pay significantly less interest over the life of the loan. A 20-year term is a middle ground.
Ready for a Real Number?
Our loan officers run the actual math on your file — with real rates, real fees, and no surprises.