Mortgage Calculator (with taxes, insurance & PMI)
See your real monthly payment - loan principal and interest plus property tax, home insurance, PMI, and HOA dues - with today's average rate preloaded. Free, instant, and private - nothing you type leaves your browser.
Default is the average 30-yr fixed rate as of July 30, 2026 (Freddie Mac PMMS).
= $300/mo on this home. US average: 0.90% (ATTOM, 2025 data).
US average: $2,490/yr for $400k of dwelling coverage (NerdWallet, May 2026).
PMI (private mortgage insurance) applies while your down payment is under 20%. Typical range: 0.46%-1.5% of the loan per year (Urban Institute).
Estimated monthly payment
$0
$0 loan payment +$0 taxes, insurance & fees
- Principal & interest
- $0
- Property tax
- $0
- Home insurance
- $0
- PMI
- $0
- HOA dues
- $0
- Loan amount
- $0
- Total interest over the loan
- $0
- Total cost (principal + interest)
- $0
- Payoff date
- -
Amortization schedule (year-by-year breakdown)
| Year | Principal paid | Interest paid | Remaining balance |
|---|
Estimate only - not lending or financial advice. Your rate, taxes, insurance, and fees depend on your credit, location, and lender. See notes below.
How this calculator works
Many calculators show only the loan payment. Your actual monthly bill is usually hundreds of dollars higher, because lenders also collect property tax and insurance through escrow (an account your lender uses to pay those bills for you). This tool adds every piece so the number you see is the number you would actually pay each month.
- 1. Principal & interest (P&I). The standard fixed-rate amortization formula: your monthly rate is the annual rate divided by 12, and the payment is set so the loan lands at exactly $0 after the last month. Early payments are mostly interest; later ones mostly principal - open the amortization schedule above to watch the balance fall year by year. The default rate is the average 30-year fixed rate from Freddie Mac's weekly national survey, as of July 30, 2026 - your quoted rate will differ with your credit score, down payment, and lender.
- 2. Property tax. Charged as a percent of your home's value, not the loan. The default is 0.90% - the 2025 US average effective rate on single-family homes (ATTOM, published April 2026) - but real rates run from about 0.3% in Hawaii to about 1.8% in Illinois, so enter your county's rate for a tighter estimate.
- 3. Home insurance. Your annual premium divided by 12. The default is $2,490 a year - the national average for $400,000 of dwelling coverage (NerdWallet, May 2026). Coastal and wildfire-prone states can run far higher.
- 4. PMI (private mortgage insurance). Added automatically when your down payment is under 20%, at an annual percent of the loan (typical range 0.46%-1.5% per the Urban Institute; default 0.75%). Under the federal Homeowners Protection Act your servicer must end it automatically when the balance is scheduled to reach 78% of the home's original value - or at the loan's midpoint if that comes first - and you can request cancellation earlier, at 80% (CFPB). The projection shown uses the automatic 78% rule, assuming on-schedule payments.
- 5. HOA dues pass straight through - they are not part of the loan, but they are part of your real monthly housing cost.
The default $400,000 home price is close to the current US market: the median existing home sold for $429,300 in May 2026 (National Association of Realtors). Every default is editable - put in your own numbers.
What this estimate does not include
It models a fixed-rate conventional loan. It does not include closing costs (typically 2%-5% of the price, paid up front), discount points, FHA or VA loan fees (those use different mortgage-insurance rules), adjustable-rate changes, utilities, or maintenance. Property tax is estimated on the purchase price, while counties assess on their own value and reassess over time - so treat this as a solid ballpark, not a lender quote.
Frequently asked questions
What is PITI?
PITI stands for principal, interest, taxes, and insurance - the four parts of a typical monthly mortgage payment. Principal pays down what you borrowed, interest is the cost of borrowing, and most lenders also collect 1/12 of your annual property tax and home insurance each month in an escrow account and pay those bills for you.
How much house can I afford?
A common starting point is the 28/36 rule: keep your housing payment under about 28% of your gross monthly income, and all debt payments combined under about 36%. On an $8,000 gross monthly income that caps the housing payment around $2,240. Work backward from that number with this calculator, and read our guide on how much house you can afford for the full method.
What is PMI and when does it end?
PMI (private mortgage insurance) is a monthly charge - typically 0.46% to 1.5% of the loan per year - that conventional lenders add when your down payment is under 20%. Under the federal Homeowners Protection Act, your servicer must automatically end PMI on the date your balance is scheduled to reach 78% of the home's original value (payments current), and you can request cancellation earlier, at 80%. This calculator projects the automatic 78% date.
Why are property taxes and insurance part of my mortgage payment?
Most lenders require an escrow account: they collect 1/12 of your estimated annual property tax and home insurance with every payment, then pay those bills when due. It protects their collateral - an uninsured or tax-delinquent home is a risk to them. That is why your real monthly payment is usually hundreds of dollars above the loan payment alone.
How much does the interest rate change my payment?
A lot - rate is the biggest lever after price. On a $320,000 30-year loan at recent rates, each half percentage point changes the payment by roughly $105 a month, which is also why buyers pay points to lower the rate and why refinancing after a rate drop can be worth it.
Does a 15-year mortgage save money?
It saves a large amount of interest - often well over $100,000 on a typical loan - because you borrow for half as long, usually at a lower rate. The trade-off is a much higher required monthly payment. Switch the loan term in the calculator to see both numbers for your case, and see our 15-vs-30-year guide for how to choose.
Go deeper: mortgage guides
Short, plain-English guides behind every number in this calculator.
How much house can I afford?
The 28/36 rule, what lenders check, and how to set your own ceiling.
PMI, explained
What private mortgage insurance costs, and exactly when it ends.
15-year vs 30-year mortgage
The real payment and interest difference, and how to choose.
Mortgage points, explained
When paying points to lower your rate actually pays off.
PITI, explained
The four parts of a mortgage payment and why escrow exists.
Closing costs, explained
The 2%-5% you pay at the table, fee by fee.
Sources & last reviewed
Defaults last reviewed July 2, 2026 by Shivam Rai. Mortgage rates move weekly - always confirm today's rate with your lender.
- Freddie Mac Primary Mortgage Market Survey (PMMS) - 30-yr fixed average 6.66%, week of July 30, 2026 (freddiemac.com/pmms)
- National Association of Realtors - median existing-home sales price $429,300, May 2026 (nar.realtor)
- ATTOM 2025 property tax analysis - 0.90% national average effective rate on single-family homes (attomdata.com, published April 9, 2026)
- NerdWallet - average homeowners insurance $2,490/yr for $400,000 dwelling coverage (updated May 6, 2026)
- Urban Institute Housing Finance Policy Center - typical PMI range 0.46% to 1.50% of the loan per year
- CFPB - Homeowners Protection Act PMI termination rules (consumerfinance.gov/ask-cfpb)