What inputs affect my mortgage payment?

Your payment depends on loan amount, interest rate, term, taxes, insurance, and any HOA or PMI amounts.

How is principal and interest calculated?

The calculator uses standard amortization to split each payment into interest and principal based on the remaining balance and rate.

Can I include taxes and insurance?

Yes. Enter monthly property tax and insurance to see a full PITI payment estimate.

Mortgage Payment Calculator

Calculate monthly mortgage payments including principal, interest, taxes, insurance, PMI, and HOA. View full amortization schedule.

Scratchpad (not saved)

Save to create a persistent, shareable workspace.

What This Calculator Does

Estimate a full monthly housing payment by combining loan principal and interest with property tax, homeowners insurance, PMI, and HOA dues in one calculation.

It combines Home Price, Down Payment (%), Down Payment ($), Interest Rate to estimate Monthly Payment (Total), Principal & Interest, Property Tax.

Formula & Method

Core equations: Monthly payment uses the standard amortization formula: M = P \cdot \frac{r(1+r)^n}{(1+r)^n - 1} where P is the loan principal, r is the monthly interest rate, and n is the total number of payments. PMI of 0.5% is automatically added when the down payment is below 20%. Inputs are applied in base units, then derived metrics are computed from the same equations and rounded for display.

Notation used in the formulas: R = Monthly Payment (Total); x_{1} = Home Price; x_{2} = Down Payment (\%); x_{3} = Down Payment (\);x_{4}= Interest Rate;x_{5}= Loan Term;x_{6}$ = Annual Property Tax.

Method summary: inputs are normalized to consistent units, core equations are evaluated, then secondary values are derived and rounded for display.

Use this before making an offer, comparing lenders, or testing down payment scenarios so you can budget from full monthly cost instead of principal-and-interest only.

Inputs Used

Home Price: The purchase price of the home
Down Payment (%): Percentage of home price paid upfront
Down Payment ($): Dollar amount paid upfront (synced with percentage)
Interest Rate: Annual interest rate
Loan Term: Length of the mortgage
Annual Property Tax: Annual property tax amount
Annual Home Insurance: Annual homeowners insurance premium
PMI Rate: Private mortgage insurance rate (auto-set to 0.5% when down payment < 20%)
Monthly HOA: Monthly homeowners association fee

Related Calculators

Mortgage Affordability Calculator — How much house you can afford based on income, debts, down payment, and interest rate.
Loan Payoff Calculator — See the impact of extra payments on your loan payoff timeline and total interest.
Refinance Break-Even Calculator — Calculate when refinancing pays off given new loan terms and closing costs.
Rent vs Buy Calculator — Compare the total cost of renting vs buying a home over a given time period.
Compound Interest Calculator — Calculate how your savings or investments grow over time with compound interest. See the effect of different compounding frequencies.
ARM vs Fixed Calculator — Compare adjustable-rate vs fixed-rate mortgages over the life of the loan.
Auto Loan Calculator — Calculate car payments with down payment, trade-in value, and loan terms.
Personal Loan Calculator — Calculate unsecured personal loan payments including origination fees.