Mortgage Payment Calculator

Find your monthly house payment, including taxes, insurance and PMI, and see the total interest over the life of the loan.

$
Annual rate, not APR.
$
Taxes, Insurance and Fees (Optional)
$
$
Applies only with less than 20% down. Usually 0.3–1.5%.
$
Enter the down payment in dollars or percent; the other updates.
–
Per Month
Principal and interest
Property tax
Insurance
PMI
HOA
Loan amount
Payoff
Total of all P&I payments
Total Interest

Compare Scenarios

Items you add are saved in this browser.

ScenarioLoanRateTermMonthlyInterestRemove

How a Mortgage Payment Is Calculated

The principal and interest part of the payment comes from the standard loan formula. Taxes, insurance, mortgage insurance and HOA dues are added on top; lenders often collect taxes and insurance in an escrow account with each payment.

Monthly P&I = L × r × (1 + r)n ÷ ((1 + r)n − 1)

L is the loan amount (price minus down payment), r is the annual rate ÷ 12, and n is the number of monthly payments (years × 12). This is the same result as Excel's PMT function.

Total monthly = P&I + property tax ÷ 12 + insurance ÷ 12 + PMI + HOA

Worked Example

PMI

With less than 20% down on a conventional loan, lenders usually require private mortgage insurance. Under the Homeowners Protection Act, it must end automatically when the balance is scheduled to reach 78% of the original home value, and you can ask to cancel at 80%. This page stops PMI at 78% on the regular schedule. FHA and VA loans have their own insurance and funding fee rules; see those calculators.

Tips

The schedule here rounds interest to the cent each month, as lenders do, so total interest can differ from a spreadsheet by a few cents to a few dollars. Rates, taxes and insurance vary widely by location and credit; use your Loan Estimate for exact figures.