Mortgage calculator with taxes, insurance and PMI
Calculate your full monthly mortgage payment with property tax, insurance, HOA and PMI, plus total interest, payoff date and amortisation schedule.
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- Free, no account
- Principal & interest80.2%
- Property tax14.5%
- Home insurance5.3%
- Principal & interest80.2%$2,275.44
- Property tax14.5%$412.50
- Home insurance5.3%$150.00
Shares of the payment you make each month.
Loan amount
$360,000.00
80.0% LTV
Down payment
$90,000.00
Total interest
$459,164.00
Total of payments
$819,164.00
principal + interest
Payoff date
January 1, 2056
30 years
True cost of ownership
$1,021,664.00
incl. tax, insurance, HOA, PMI
Add an extra monthly principal payment above to see how much interest it saves and how many months it removes from the term.
- Scheduled balance$360,000
Formula and working
Loan amount
L = price − down payment L = $450,000.00 − $90,000.00 = $360,000.00
Monthly principal & interest
M = L × i / (1 − (1 + i)^−n) i = 6.5% ÷ 12 = 0.00541667 n = 30 × 12 = 360 M = 360,000 × 0.00541667 ÷ (1 − 1.00541667^−360) = $2,275.44
Monthly escrow and fees
E = tax ÷ 12 + insurance ÷ 12 + HOA + PMI E = 4,950 ÷ 12 + 1,800 ÷ 12 + 0 + 0 = $562.50
Total monthly payment
Payment = M + E Payment = 2,275.44 + 562.5 = $2,837.94
Total interest paid
Interest = Σ (balance × i) over every payment 360 payments of $2,275.44 total paid $819,164.00 − principal $360,000.00 = $459,164.00
PMI is estimated as a fixed annual percentage of the original loan amount and is dropped once the balance falls below 80% of the purchase price.
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Feb 2026 | $2,275.44 | $325.44 | $1,950.00 | $359,674.56 |
| 2 | Mar 2026 | $2,275.44 | $327.20 | $1,948.24 | $359,347.36 |
| 3 | Apr 2026 | $2,275.44 | $328.98 | $1,946.46 | $359,018.38 |
| 4 | May 2026 | $2,275.44 | $330.76 | $1,944.68 | $358,687.62 |
| 5 | Jun 2026 | $2,275.44 | $332.55 | $1,942.89 | $358,355.07 |
| 6 | Jul 2026 | $2,275.44 | $334.35 | $1,941.09 | $358,020.72 |
| 7 | Aug 2026 | $2,275.44 | $336.16 | $1,939.28 | $357,684.56 |
| 8 | Sep 2026 | $2,275.44 | $337.98 | $1,937.46 | $357,346.58 |
| 9 | Oct 2026 | $2,275.44 | $339.81 | $1,935.63 | $357,006.77 |
| 10 | Nov 2026 | $2,275.44 | $341.65 | $1,933.79 | $356,665.12 |
| 11 | Dec 2026 | $2,275.44 | $343.50 | $1,931.94 | $356,321.62 |
| 12 | Jan 2027 | $2,275.44 | $345.36 | $1,930.08 | $355,976.26 |
Showing 1–12 of 360 rows
Assumptions
- A fixed interest rate for the whole term, compounded monthly, with payments made on the same day each month.
- Property tax, insurance and HOA are held flat in today’s money; in reality they usually rise each year.
- PMI is dropped at 80% loan-to-value based on the purchase price, the point at which you can ask a conventional US lender to cancel it; it ends automatically at 78%. Lenders may use an appraised value instead.
- Closing costs, points, prepayment penalties and mortgage interest tax relief are not included.
- Extra payments are applied to principal immediately, in the same month they are made.
How to use this mortgage calculator
- Enter the home price you are considering and your down payment. Switch between a percentage and a cash amount with the toggle — the other figure is shown underneath so you can see both at once.
- Set the interest rate and term. Fifteen and thirty years are the common US fixed terms; twenty-five is standard in the UK and Canada.
- Fill in the escrow items: property tax (as a rate or an annual amount), home insurance, HOA or condo fees and the PMI rate if your down payment is under 20%.
- Add an extra monthly principal payment to see how much interest disappears and how many months come off the term.
- Scroll to the schedule for a payment-by-payment breakdown, switch between the monthly and yearly views, and export the whole thing as CSV.
What is actually in a monthly mortgage payment
Lenders call it PITI — principal, interest, taxes and insurance — and for most borrowers there are two more line items on top of that.
- Principal is the part of the payment that reduces the debt. It starts small and grows every month.
- Interest is the lender's charge on the balance you still owe. It starts large and shrinks every month.
- Property tax is set by your local authority, usually as a percentage of the assessed value. It is collected monthly into an escrow account and paid once or twice a year on your behalf.
- Homeowners insurance is required by the lender for as long as the loan exists, and is escrowed the same way.
- PMI — private mortgage insurance — protects the lender, not you, and is charged while your loan-to-value ratio is above 80%. It typically runs 0.3% to 1.5% of the original loan amount per year.
- HOA or condo fees are not part of the mortgage at all, but they leave your account every month and lenders count them when they assess affordability.
The formula behind the payment
The level monthly payment on a fixed-rate loan comes from the standard annuity formula:
M = L × i / (1 − (1 + i)^−n), where L is the loan amount,
i is the monthly interest rate (the annual rate divided by twelve) and
n is the total number of payments. The calculator shows this with your own
numbers substituted in the formula panel.
Each month, interest is charged on whatever balance remains, and the rest of the payment reduces the principal. That is why the split shifts so dramatically over the life of the loan: on a 30-year loan at 6.5%, the first payment is roughly 86% interest, and the crossover where principal finally exceeds interest does not arrive until around year eighteen.
Monthly principal and interest per 100,000 borrowed
Multiply the figure for your rate and term by your loan amount in hundreds of thousands. A 400,000 loan at 6.5% over 30 years is 4 × 632.07 = 2,528.28 a month before tax and insurance.
| Interest rate | 15 years | 20 years | 30 years |
|---|---|---|---|
| 3.0% | 690.58 | 554.60 | 421.60 |
| 3.5% | 714.88 | 579.96 | 449.04 |
| 4.0% | 739.69 | 605.98 | 477.42 |
| 4.5% | 764.99 | 632.65 | 506.69 |
| 5.0% | 790.79 | 659.96 | 536.82 |
| 5.5% | 817.08 | 687.89 | 567.79 |
| 6.0% | 843.86 | 716.43 | 599.55 |
| 6.5% | 871.11 | 745.57 | 632.07 |
| 7.0% | 898.83 | 775.30 | 665.30 |
| 7.5% | 927.01 | 805.59 | 699.21 |
| 8.0% | 955.65 | 836.44 | 733.76 |
What paying extra actually saves
On a 360,000 loan at 6.5% over 30 years, the scheduled payment is 2,275.44 and the total interest is 459,164 — more than the house itself. Adding a fixed amount to every payment changes that sharply, because each extra dollar of principal removes every future interest charge that dollar would have generated.
| Extra per month | Paid off in | Time saved | Interest saved |
|---|---|---|---|
| 0 | 30 yr 0 mo | — | — |
| 100 | 26 yr 7 mo | 3 yr 5 mo | 62,910 |
| 250 | 22 yr 10 mo | 7 yr 2 mo | 127,719 |
| 500 | 18 yr 9 mo | 11 yr 3 mo | 196,133 |
| 1,000 | 14 yr 0 mo | 16 yr 0 mo | 270,608 |
Before overpaying, check two things: that your loan has no prepayment penalty, and that the payment is applied to principal rather than held as a prepaid instalment. Many lenders require you to say so explicitly.
How accurate is this?
The amortisation itself is exact. Payments are computed with arbitrary-precision decimal arithmetic and rounded to the cent the same way a servicer does, with the final instalment absorbing the rounding difference, so the schedule matches a lender statement to the penny for a standard fixed-rate loan.
The estimates are in the escrow items. Property tax and insurance are held flat in today's money, but both usually rise every year; a reassessment after purchase is common in the US. PMI is modelled as a fixed percentage of the original loan amount and dropped at 80% loan-to-value against the purchase price — your lender may use an appraised value, and FHA loans have entirely different rules where mortgage insurance can last the life of the loan. Closing costs, discount points, escrow shortfalls and mortgage interest tax relief are not included.
Nothing you type leaves your device
Your price, income implications, savings and payoff plans are private. This page ships a few kilobytes of JavaScript that does the arithmetic locally — there is no request to a server, no lead form and no rate-quote broker behind the results.
Questions
What does the monthly payment include?
Principal and interest from the loan itself, plus the escrow items most lenders collect with it: property tax, homeowners insurance, HOA or condo fees, and PMI while your loan-to-value is above 80%. You can zero out any of them.
When does PMI stop?
This calculator drops PMI as soon as the balance falls below 80% of the purchase price, which is when you can normally request cancellation on a conventional US loan. Lenders must cancel automatically at 78% and may use an appraised value instead of the purchase price.
How much does one extra payment a month save?
Enter an amount in the extra monthly principal field and the tool shows the interest saved and the months removed from the term. On a 30-year loan, even a small extra amount often cuts several years off, because every extra dollar of principal stops accruing interest for the rest of the term.
Is the amortisation schedule downloadable?
Yes — the monthly and yearly views both come from the same schedule, and the CSV button exports every payment with its interest, principal and remaining balance for a spreadsheet.
Do my numbers get uploaded anywhere?
No. The whole calculation runs in JavaScript in your browser. There is no server call, no account and no analytics on your figures.