Free Online Mortgage Calculator
Estimate your full monthly home payment, including taxes, insurance, HOA, and PMI.
20% of the home price
The estimate includes principal, interest, property tax, home insurance, HOA, and PMI if entered. It does not include closing costs, maintenance, or utilities.
Yearly payment breakdown
| Year | Principal paid | Interest paid | Remaining balance |
|---|
About the Mortgage Calculator
A mortgage payment is usually more than principal and interest. This calculator also estimates the monthly share of property tax and home insurance, and it lets you add HOA fees and private mortgage insurance (PMI) so the total is closer to what you will actually pay each month.
What each part means
- Principal & interest: the loan repayment based on the amount borrowed, the interest rate, and the term.
- Property tax: an annual tax bill divided by twelve. Lenders often collect this monthly into an escrow account.
- Home insurance: the yearly premium divided by twelve, also often paid through escrow.
- HOA fees: monthly dues for a homeowners association, if your property has one.
- PMI: private mortgage insurance, usually required when the down payment is below 20% of the home price.
How to use this calculator
- Enter the home price and your planned down payment.
- Add the interest rate and loan term offered by your lender.
- Enter annual property tax and home insurance, plus any monthly HOA or PMI amounts.
- Click Calculate payment to see your estimated monthly payment and yearly breakdown.
Frequently asked questions
How much should I put down?
A 20% down payment usually avoids PMI and lowers the monthly payment, but it is not the right choice for every buyer. A smaller down payment keeps more cash available for emergencies and closing costs.
Does this include closing costs?
No. Closing costs, moving costs, repairs, and utilities are separate from the monthly payment shown here.
Why is the total interest so high?
On a long mortgage, most of the early payments go toward interest. A shorter term or a lower rate reduces the total interest significantly.