Payment calculator
Mortgage Payment Calculator
Use the mortgage payment calculator to estimate the full monthly housing payment, not just principal and interest.
Example Use
Example: a $425,000 home with $85,000 down, a 6.75% rate, 30-year term, 1.1% property tax, $140 monthly insurance, and 0.45% PMI produces a very different all-in payment than principal and interest alone.
What it estimates
The calculator combines principal and interest with estimated property taxes, homeowners insurance, PMI, and HOA dues. That all-in payment is usually the better number for budgeting.
Principal and interest come from the loan amount, interest rate, and loan term. Taxes, insurance, PMI, and HOA dues are separate assumptions that can vary by location and property.
How to use the result
Use the total monthly payment to compare homes, down payment options, and rate scenarios. If the payment is close to your comfort limit, test higher taxes, higher insurance, or a smaller down payment.
For an actual purchase, compare the estimate with a lender Loan Estimate and local tax and insurance information.
FAQs
Does this include taxes and insurance?
Yes, the calculator includes fields for property tax and insurance assumptions.
Is PMI automatic?
The calculator estimates PMI when the down payment is below 20 percent.
Is this a lender quote?
No. It is an educational estimate, not a quote or approval.
Run the numbers