Use our free mortgage calculator to determine your monthly house payment. Enter your home price, down payment, and interest rate for an instant, accurate estimate.
| Breakdown | Monthly | Total |
|---|---|---|
| Principal & Interest | $0.00 | $0.00 |
| Property Tax | $0.00 | $0.00 |
| Home Insurance | $0.00 | $0.00 |
| PMI | $0.00 | $0.00 |
| HOA / Other | $0.00 | $0.00 |
| Total Out-of-Pocket | $0.00 | $0.00 |
A one-page summary of the figures you just calculated — purchase price, loan amount, monthly P&I, taxes/insurance/PMI estimates, total interest, and payoff date — in a form you can save, attach to a lender enquiry, or compare against quotes. Useful when shortlisting properties, sense-checking a broker quote, or sharing a household snapshot with a partner. Estimates only; your lender’s official figures will reflect their underwriting and current product rates.
Generated in your browser. Nothing is uploaded.
| Period | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Enter values to see the schedule. | ||||
This mortgage calculator is designed to give US homebuyers a complete and realistic breakdown of their loan costs. Unlike a basic tool, this mortgage payment calculator includes property taxes, homeowners insurance, PMI, HOA fees, and extra payments so you can see your true monthly obligation.
If you are searching for a mortgage calculator with taxes and insurance or a reliable monthly mortgage calculator, this page provides both the tool and the detailed explanation behind the numbers.
This page also covers: mortgage amortization calculator, extra payment mortgage calculator, how mortgage interest is calculated, how to pay off mortgage faster calculator, how long to pay off mortgage calculator, how to calculate mortgage payoff, how to calculate mortgage insurance, and how to calculate PMI on mortgage.
Your total mortgage payment is more than just principal and interest. A complete monthly mortgage calculator must include what lenders call PITI:
This is why using a mortgage calculator with taxes and insurance is critical when estimating affordability.
A mortgage amortization calculator shows how each payment is split between interest and principal over the life of the loan.
In the early years, most of your payment goes toward interest. As the balance decreases, more of each payment goes toward principal. This gradual shift is what determines how long it takes to fully repay your mortgage.
If you’ve ever wondered how mortgage interest is calculated, it’s based on your remaining loan balance each month.
Formula used by every lender:
M = P × [ r(1+r)^n ] ÷ [ (1+r)^n − 1 ]
P = Loan amount r = Monthly interest rate n = Total number of payments
This is the same formula used inside this mortgage calculator.
An extra payment mortgage calculator helps you test strategies for paying off your loan sooner.
These strategies reduce your principal faster, which lowers the interest charged over time.
Many homeowners search for a how to pay off mortgage faster calculator because even small extra payments can save thousands.
For example, adding just $150 per month to a 30-year mortgage can shorten the loan by several years and significantly reduce total interest paid.
A how long to pay off mortgage calculator helps you determine your payoff timeline based on extra contributions.
By adjusting extra payments in this tool, you can instantly see your new payoff date and total interest savings.
If you're trying to understand how to calculate mortgage payoff, you need:
This calculator helps estimate your remaining balance based on your amortization schedule.
Many homebuyers search for how to calculate mortgage insurance because it can significantly increase the total monthly payment. Mortgage insurance, commonly called PMI (Private Mortgage Insurance), is typically required when your down payment is less than 20% of the home’s purchase price.
Start by subtracting your down payment from the home price. The remaining balance is your loan amount.
Example:
Home price: $350,000
Down payment: $35,000 (10%)
Loan amount: $315,000
Your lender assigns a PMI rate based on your credit score, loan type, and down payment percentage. Most PMI rates range between 0.3% and 1.5% annually of the loan amount.
To understand how to calculate PMI on mortgage, multiply your loan amount by your annual PMI rate:
Loan Amount × PMI Rate = Annual PMI Cost
Using our example:
$315,000 × 0.8% = $2,520 per year
Divide the annual PMI cost by 12 to find your monthly mortgage insurance payment:
$2,520 ÷ 12 = $210 per month
This amount is added to your regular principal, interest, property taxes, and homeowners insurance payment.
In most US loans, PMI can be removed once your loan balance reaches 80% of your home’s original value. You may also qualify for automatic removal at 78% loan-to-value, depending on your lender.
When using a mortgage calculator with taxes and insurance, including PMI gives you a realistic estimate of your full housing cost. Without calculating mortgage insurance properly, buyers often underestimate their true monthly obligation.
Understanding how to calculate mortgage insurance helps you decide whether increasing your down payment could save money long term. Even a small increase in upfront payment may eliminate PMI entirely.
When using a mortgage calculator with taxes and insurance, it's important to understand that your true monthly payment is more than just principal and interest. Most lenders calculate your full housing cost by including property taxes, homeowners insurance, and sometimes private mortgage insurance (PMI).
Property taxes are charged by your local government and are usually based on the assessed value of your home. In the United States, these taxes vary by state and county. When using a mortgage payment calculator including taxes, you can enter your estimated annual property tax amount, which is then divided by 12 and added to your monthly payment.
For example, if your annual property tax is $3,600, your monthly tax portion would be $300.
Homeowners insurance protects your property against damage, fire, theft, and certain natural disasters. Lenders require insurance to protect their investment. When calculating your payment with a mortgage calculator with taxes and insurance, your yearly insurance premium is divided into monthly installments and included in your total housing cost.
If your down payment is less than 20% of the home's purchase price, lenders usually require PMI. Many users search for how to calculate PMI on mortgage because this cost can significantly impact monthly payments.
To understand how to calculate mortgage insurance, multiply your loan amount by the annual PMI rate (typically between 0.3% and 1.5%), then divide by 12 to get your monthly PMI cost.
Example: Loan amount: $300,000 PMI rate: 0.8% Annual PMI = $2,400 Monthly PMI = $200
Once your loan balance reaches 80% of your home's original value, you may be able to request PMI removal, reducing your monthly mortgage payment.
Many buyers focus only on the base loan payment, but a realistic monthly mortgage calculator must include taxes, insurance, and PMI to give you an accurate estimate. Ignoring these costs can make a home seem more affordable than it actually is.
That’s why this mortgage calculator provides a full breakdown — helping you plan confidently whether you are buying in the USA, the UK, or elsewhere in Europe.
Mortgage insurance is usually required when your down payment is below 20%. It is calculated as a percentage of your loan amount annually and divided into monthly payments.
To estimate how to calculate PMI on mortgage, multiply your loan amount by the annual PMI rate (typically 0.3%–1.5%), then divide by 12 to get the monthly cost.
Choosing between 15 and 30 years affects your monthly payment and total interest:
This mortgage payment calculator lets you compare both options easily.
Principal, interest, taxes, insurance, and PMI when applicable.
Yes. You can enter annual taxes and insurance for accurate monthly results.
Yes. It shows a detailed amortization breakdown of payments over time.
Yes. Add monthly, yearly, or one-time extra payments to see updated payoff dates.
Using a detailed mortgage calculator gives you clarity before making one of the biggest financial decisions of your life. By understanding how mortgage interest is calculated and how extra payments affect your loan, you can make smarter long-term choices.
Disclaimer: Estimates only. Always confirm final numbers with your lender.
Your real monthly mortgage payment is not just principal and interest — it is PITI: Principal, Interest, Taxes, and Insurance. US property taxes typically run 1–2.5% of home value per year, while homeowners insurance averages $1,800/year in 2026. Our mortgage calculator with taxes and insurance folds all four components into the monthly figure, so the number you see is what actually leaves your bank account. This matters because lenders qualify you on PITI, not on the principal+interest number advertised in mortgage ads.
The classic affordability test: housing should not exceed 28% of gross monthly income, and total debt (housing + car + student + credit cards) should not exceed 36%. On an $80,000 salary, that is $1,867 maximum mortgage payment. Use this calculator to reverse-engineer the home price that fits your income. In the UK, lenders use a multiplier instead — typically 4–4.5x annual income — which produces a similar answer for most earners.
The formula behind every monthly mortgage payment calculator is M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan amount, r is the monthly rate (annual rate / 12), and n is the number of payments (years × 12). On a $300,000 loan at 6% for 30 years: M = 300000 × (0.005 × 1.005^360) / (1.005^360 − 1) = $1,798.65. Our calculator does this instantly and adds the tax/insurance layer.
An amortization schedule shows exactly how each monthly payment splits between interest and principal over the life of the loan. In the early years of a 30-year mortgage, almost 80% of every payment goes to interest. By year 20, that flips to mostly principal. Viewing the full amortization schedule reveals the exact benefit of extra payments — an extra $100/month on a $300,000 loan can shave 5+ years and $60,000+ in interest off the total cost.
In the US, FHA loans allow 3.5% down but carry mortgage insurance; VA loans (for veterans) require 0% down; conventional loans usually need 5–20% down with PMI below 20%. In the UK, most buyers use a repayment mortgage (typically 25-year term); interest-only mortgages exist but lenders require an exit strategy. Each loan type changes the monthly payment materially — this calculator accepts any rate/term combination so you can compare across products.
Monthly payment = P × [r(1+r)^n] / [(1+r)^n − 1]. P is the loan, r is monthly rate (APR/12), n is months. The calculator adds property tax and insurance on top.
PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a full monthly mortgage payment that lenders use to qualify you.
Use the 28/36 rule: housing costs under 28% of gross monthly income, total debt under 36%. UK lenders typically cap loans at 4–4.5x annual salary.
Yes — an extra $100/month on a $300,000, 30-year, 6% mortgage saves roughly $60,000 in interest and pays it off about 5 years early.
The interest rate is the rate charged on the principal. APR includes the interest rate plus fees (origination, points, PMI) and reflects the true annual cost of the loan.
For the UK market, this calculator estimates your monthly mortgage repayments in pounds (GBP), based on your deposit, the amount you borrow, the interest rate and the term. It shows how your loan-to-value affects the deal you can get and what a typical repayment looks like.
UK buyers put down a deposit, usually between 5% and 20% of the property price. The remaining amount borrowed against the value is your loan-to-value (LTV): a 10% deposit means a 90% LTV. Lower LTVs unlock lower interest rates, so a larger deposit generally means cheaper repayments.
Most borrowers choose a fixed-rate deal (commonly 2 or 5 years) where the rate is locked in. When that deal ends you usually move onto the lender's standard variable rate (SVR), which is higher and can change at any time, so many people remortgage. A tracker mortgage instead follows the Bank of England base rate plus a set margin. You can repay on a repayment basis, where each payment clears interest and some capital so the loan is gone by the end of the term (typically 25 to 30 years), or interest-only, where you pay just the interest and must repay the capital separately at the end. Before house-hunting seriously, buyers obtain an agreement in principle from a lender, and on completion most pay Stamp Duty Land Tax (SDLT) on the purchase.
Take a £300,000 home with a 10% deposit (£30,000), borrowing £270,000 on a repayment basis at 5.5% over 25 years. The monthly repayment is about £1,658. A larger deposit, say 20%, would lower both the LTV and the rate, reducing your monthly repayments. Rates shown here are illustrative, so check current deals with lenders or a broker.
| Item | Typical range |
|---|---|
| Deposit | 5% - 20% |
| Loan-to-value (LTV) | 60% - 95% |
| Mortgage term | 25 - 30 years |
| Fixed-rate deal length | 2 or 5 years |
| Repayment type | Repayment or interest-only |
LTV is the size of your mortgage as a percentage of the property's value. A £30,000 deposit on a £300,000 home is a 90% LTV. Lower LTVs usually qualify you for lower interest rates.
Unless you remortgage, you move onto the lender's standard variable rate (SVR), which is typically higher and can change. Many borrowers switch to a new fixed or tracker deal before that happens.
On a repayment mortgage, each payment clears interest and capital so the loan is fully repaid by the end of the term. Interest-only keeps payments lower but leaves the full capital to repay separately, so lenders rarely offer it for residential buyers.