Mortgage Payment Calculator

Best for: Buyer

Estimate your total monthly housing payment including principal, interest, taxes, insurance, HOA, and PMI.

What does this calculator do?

This calculator estimates your total monthly housing payment by combining principal and interest with property taxes, insurance, HOA fees, PMI, and any other monthly costs.

Who should use it?

Homebuyers who want to understand their true monthly housing cost — not just the principal and interest payment.

What numbers do I need?

Purchase price, down payment, interest rate, loan term, annual property taxes, annual insurance, monthly HOA, monthly PMI, and any other monthly costs.

What should I watch out for?

Taxes and insurance can change annually. HOA can increase. PMI may be required with less than 20% down. Always verify actual costs with your lender and local tax authority.

Purchase Price

Down Payment

Interest Rate

Loan Term

years

Annual Property Taxes

Annual Insurance

Monthly HOA

Monthly PMI

Other Monthly Costs

How It Works

1Enter your purchase price and down payment to calculate the loan amount.
2Input your interest rate and loan term to calculate the principal and interest payment using the standard amortization formula.
3Add annual property taxes and insurance, which are divided by 12 for monthly amounts.
4Include monthly HOA, PMI, and any other recurring housing costs.
5The calculator totals all components for your complete monthly housing payment.

Who This Calculator Is For

This calculator is ideal for homebuyers who want a realistic view of their monthly housing obligation beyond just the mortgage payment. It is especially useful for comparing different properties, down payment amounts, or loan scenarios side by side.

Frequently Asked Questions

What is included in a mortgage payment?

A mortgage payment typically includes principal, interest, property taxes, and insurance (PITI). It may also include HOA fees, PMI (if down payment is less than 20%), and other recurring costs.

How is the principal and interest payment calculated?

The P&I payment is calculated using the loan amount, interest rate, and loan term via the standard amortization formula, which determines a fixed monthly payment that pays off the loan over the specified term.

When is PMI required?

Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20% of the purchase price. It can usually be removed once you reach 20% equity in the home.

Can property taxes change after purchase?

Yes. Property taxes are reassessed periodically and can increase. Always verify current tax rates with your local tax assessor and budget for potential increases.

Related Calculators

Seller Net Proceeds

Estimate what you will actually net after mortgage payoff, commission, closing costs, repairs, and credits.

Investment Analyzer

Analyze DSCR, cash flow, cap rate, and cash-on-cash return in one combined tool for rental properties.

Refinance Savings

Compare your current loan against a refinance to see monthly savings and break-even point.

Have questions about your results?

Ask TradeDesk AI™ or send your scenario to James for a professional review.

Ask TradeDesk AI™ Send to James

Calculator results are estimates for educational and informational purposes only. They are not financial, legal, tax, or lending advice and do not represent a loan approval or commitment to lend. Actual terms vary based on lender, borrower profile, documentation, market conditions, and underwriting.