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Mortgage Calculator

Estimate your monthly house payment from the home price, down payment, rate and term — including property tax, homeowners insurance and HOA dues, not just principal and interest.
$
%
%
years
%
$
$
Total monthly payment
$1,553.27
Principal & interest
$1,199.10
Taxes & insurance (monthly)
$354.17
Loan amount
$200,000
Total interest over the loan
$231,676

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How to use it

  1. Enter the home price and your down payment as a percentage.
  2. Enter the mortgage rate and term in years (30 and 15 are most common).
  3. Add yearly property tax, yearly insurance and any monthly HOA dues for the full monthly cost.

Examples

$250,000 home, 20% down

The loan is $200,000. At 6% for 30 years, principal and interest are $1,199.10 a month, and you'd pay $231,676 in interest over the life of the loan.

With taxes and insurance

Add a 1.1% property tax ($2,750 a year) and $1,500 a year of insurance and the full payment rises to about $1,553 a month.

What's in a mortgage payment

Lenders often quote PITI: principal, interest, taxes and insurance. Principal and interest come from the standard amortization formula on the loan amount (price minus down payment). Taxes and insurance are added monthly — usually collected into an escrow account.

With less than 20% down on a conventional loan you may also pay private mortgage insurance (PMI), which this estimate doesn't include. Your lender's Loan Estimate shows the exact figure.

P&I = L × r ÷ (1 − (1 + r)^−n), r = rate ÷ 12, n = years × 12

Frequently asked questions

How much should I put down?

20% avoids PMI on most conventional loans, but many buyers put down less. A smaller down payment means a larger loan, a higher payment and more total interest.

15-year or 30-year mortgage?

A 15-year loan has a higher monthly payment but usually a lower rate and far less total interest. A 30-year loan keeps payments lower and more flexible.

Where do I find the property tax rate?

Your county assessor publishes it, and listings often show the previous year's tax bill. Rates vary widely by location, so use a local figure rather than a national average.

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More in Money · Last reviewed October 2026