Mortgage Payment Calculator

Calculate your complete monthly mortgage payment including principal, interest, property taxes, home insurance, and PMI. Perfect for home buyers and refinancing.

Understanding Mortgage Payments

A mortgage payment consists of four main components: Principal (loan repayment), Interest (lender's fee), Taxes (property taxes), and Insurance (homeowners insurance). This is often called PITI. If your down payment is less than 20%, you'll also pay PMI (Private Mortgage Insurance).

Understanding how these components work together helps you budget accurately and make informed decisions about your home purchase. Your monthly payment can vary significantly based on your down payment, loan term, and local tax rates.

How Our Mortgage Calculator Works

Our calculator computes your complete monthly housing costs using the standard mortgage formula plus additional costs:

Total Payment = P&I + Property Tax + Insurance + PMI

Where:
• P&I = Principal & Interest (loan payment)
• Property Tax = Annual tax ÷ 12 months
• Insurance = Homeowners insurance ÷ 12 months
• PMI = Required if down payment < 20%

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Mortgage Payment Calculator

Calculate your complete monthly housing costs

Home Price

Please enter a valid home price

Down Payment

Please enter a valid down payment

Loan Term

Please enter a valid loan term

Interest Rate

Please enter a valid interest rate

Annual Property Tax

Please enter a valid property tax amount

Annual Home Insurance

Please enter a valid insurance amount

Monthly Payment Breakdown

Principal & Interest: —

Property Tax: —

Home Insurance: —

PMI: —

Total Monthly Payment: —

Loan Amount: —

Down Payment %: —

Total Payments (30 years): —

Total Interest: —

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