Home Tools

Mortgage Calculator

Estimate principal and interest, taxes, insurance, PMI, and total monthly housing cost for a home loan.

Updated April 11, 2026
Free online tool
Planning and research use

Why this page exists

A mortgage payment is more than principal and interest. This calculator helps buyers estimate the full monthly picture, including property taxes, homeowners insurance, and PMI when the down payment is small.

Interactive tool

Run the estimate

Enter your numbers and read the result first, then use the sections below to understand what affects the outcome.

Calculator

Mortgage calculator

Estimate monthly mortgage and housing costs.

Result

$2,724

Estimated monthly housing cost including principal, interest, taxes, insurance, and optional PMI.

Total monthly payment$2,724

Principal and interest$2,149

Taxes and insurance$575

Estimated PMI$0

Your estimated loan amount is $340,000.
Property taxes and insurance add roughly $575 per month.
If the down payment reaches 20%, PMI may drop out and materially lower the total monthly cost.

This is a planning estimate. Actual escrow, insurance, PMI, and lender costs may differ.

Planning note

Last updated April 11, 2026. Use this tool to compare scenarios and plan ahead, then confirm important details with the lender, employer, insurer, contractor, or other qualified provider involved in the final decision.

How it works

What the calculator is doing

Enter the home price, down payment, rate, and loan term to estimate the base principal-and-interest payment.

Add property tax rate, annual insurance, and optional PMI to reflect the monthly housing cost more realistically.

Review the total monthly payment alongside the loan amount so you can compare homes with a clearer budget target.

Understanding your result

The principal-and-interest payment shows the cost of financing, while taxes, insurance, and PMI explain the gap between a lender quote and the number buyers actually need to budget each month.

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Examples

Ways people use this tool

Example scenarios help turn a quick estimate into a more useful comparison or planning step.

Test a 10% versus 20% down payment

Increasing the down payment reduces the loan amount and may lower or eliminate PMI, which can make a large difference in monthly cost.

Compare tax-heavy areas

Changing the property tax rate helps you see why two similarly priced homes can have very different monthly payments.

Estimate before shopping

Use the calculator before touring homes so you know what payment range fits your budget before emotions enter the decision.

FAQ

Common questions

Does this calculator include property taxes and insurance?

Yes. You can include both so the total monthly estimate is closer to what homeowners actually pay.

What is PMI?

Private mortgage insurance is often added when the down payment is below 20%. This calculator lets you estimate that extra monthly cost with a simple annual rate input.

Can I use this to compare fixed-rate loans?

Yes. It works well for comparing loan terms, rates, and down payment scenarios before you request lender quotes.

Related tools

Keep comparing

Use these related tools to compare nearby scenarios, check a second estimate, or keep narrowing down the right decision.

Home ToolsUpdated April 11, 2026