Free Tool

Mortgage Payment Calculator

Enter your numbers below to estimate your full monthly payment — including taxes, insurance, and PMI.

Loan Details
Home Price
Down Payment
20.0% of home price
Interest Rate (%)
Loan Term (years)
Taxes, Insurance & PMI
$
≈ $208/mo
$
≈ $100/mo
%
$0/mo — PMI not required
$
Est. Total Monthly Payment
$2,025
All components included below
Principal & Interest $1,817
Property Taxes $208
Homeowners Insurance $100
PMI $0
HOA Fees $0
Loan Amount
$280,000
Down Payment
$70,000
Disclaimer: This calculator provides estimates only and should not be considered exact payments. Actual payments may vary. Contact a loan officer for precise, personalized information.
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Terms Explained
Understanding the Numbers

Purchase Price

The total dollar amount you will pay for the property.

Down Payment

Money paid upfront. The difference between purchase price and loan amount.

Interest Rate

The annual percentage charged by the lender on the loan principal.

Loan Term

The number of years to repay the loan — commonly 15 or 30 years.

Principal & Interest

The core mortgage payment: principal is the loan balance, interest is the borrowing cost.

Property Taxes

Annual taxes assessed on your home, divided by 12 for a monthly estimate.

Homeowners Insurance

Annual coverage for your property against damage, theft, and disasters, divided by 12.

PMI

Private Mortgage Insurance — typically required when down payment is less than 20%. Usually 0.2%–1.5% of the loan annually.

HOA Fees

Monthly fees if your home is part of a Homeowners Association.

Loan Amount

Purchase price minus down payment — the amount you are borrowing.