Principal and interest
The calculator uses the standard fixed-rate amortization formula to estimate the monthly principal and interest payment from loan amount, rate, and term.
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Mortgage calculator
Mortgage Calculator with Taxes, Insurance, HOA, and Monthly Payment Estimate
Estimate a monthly mortgage payment from home price, down payment, interest rate, loan term, property tax, insurance, and HOA. Compare principal, interest, and escrow-style costs before you talk to a lender.
$2,875.44
Estimated monthly payment
$360,000.00
Loan principal
20.0%
Down payment
Mortgage payment result
Principal and interest
$2,275.44
The core mortgage payment before tax, insurance, HOA, PMI, or other fees.
Estimated total monthly
$2,875.44
Principal, interest, estimated property tax, insurance, and HOA combined.
Estimated interest paid
$459,160.16
Estimated interest over the full loan term if the loan is held to maturity.
Tax, insurance, HOA
$600.00
Optional recurring homeownership costs added to the payment estimate.
Mortgage estimate summary Home price: $450,000.00 Down payment: $90,000.00 (20.0%) Loan principal: $360,000.00 Interest rate: 6.50% Term: 30 years / 360 months Estimated monthly payment: - Principal and interest: $2,275.44 - Property tax: $450.00 - Home insurance: $150.00 - HOA: $0.00 - Estimated total: $2,875.44 Over the loan term: - Total principal and interest: $819,160.16 - Estimated interest paid: $459,160.16 Note: This estimate does not include PMI, closing costs, maintenance, tax changes, insurance changes, or lender fees.
What this mortgage calculator includes
Taxes and insurance
Property tax and home insurance are optional annual inputs. They are divided by 12 and added to the monthly estimate so the number is closer to a real housing budget.
HOA and recurring costs
Monthly HOA is added separately because condos, townhomes, and some neighborhoods can change affordability even when the loan payment looks manageable.
How to use the mortgage estimate
Start with a realistic home price and down payment
A higher down payment lowers the loan principal and can also affect PMI, lender requirements, and overall affordability. This page shows the down payment percentage so you can compare scenarios quickly.
Compare rates and terms
A 30-year term usually lowers the monthly payment but increases total interest. A 15-year term usually raises the payment but can reduce interest dramatically. Run both before deciding what tradeoff fits your budget.
Do not ignore non-loan costs
Taxes, insurance, HOA, maintenance, utilities, and closing costs can change the real cost of owning a home. This calculator includes some recurring costs, but it should not replace a loan estimate from a lender.
Educational estimate only
This mortgage calculator is for educational estimates only. It is not financial, tax, legal, lending, or real estate advice. Actual payments can vary based on lender fees, PMI, escrow rules, tax assessments, insurance quotes, credit profile, and local requirements.
Mortgage calculator FAQ
What is included in the monthly mortgage payment?
The main estimate includes principal, interest, property tax, home insurance, and HOA if you enter those optional fields. It does not include PMI, utilities, maintenance, closing costs, or lender-specific fees.
How is principal and interest calculated?
For a fixed-rate mortgage, the calculator uses the standard amortization formula based on loan principal, monthly interest rate, and number of monthly payments.
Why is my lender estimate different?
Lenders may include PMI, escrow rules, prepaid costs, discount points, local fees, exact closing dates, and credit-based pricing. Use this page for quick planning, then compare it with a formal loan estimate.
Can I use this for a 15-year mortgage?
Yes. Enter 15 as the loan term. You can compare it with 30 years to see the monthly payment and total interest tradeoff.