Mortgage calculator
A mortgage calculator shows your full monthly payment — principal, interest, property tax, homeowners insurance and PMI — not just principal and interest. Enter the home price, down payment, rate and term to see what you'd really pay each month, plus the total interest over the life of the loan.
Monthly payment
$2,619.49
How this estimate is calculated
We amortize the loan amount (home price minus down payment) at your rate over the term to get principal and interest, then add monthly property tax (your rate × home value ÷ 12), homeowners insurance and HOA. PMI is added automatically when your down payment is under 20% of the price and typically drops off at 20% equity. Default rates reflect Freddie Mac's average 30-year fixed and national property-tax/insurance averages.
See our full methodology for assumptions, limits and the 2026 data used.
Sources
- Freddie Mac Primary Mortgage Market Survey (PMMS) (as of 2026-02-28)
- Federal Reserve G.19 (Consumer Credit) (as of 2026-02-28)
- Written by
- Colson — Founder & consumer-finance researcher, ColsonSuperApps LLC
- Verified
- Every figure checked against its cited primary source
- Last updated
- June 14, 2026
- Standards
- Editorial policy
These results are educational estimates based on the figures you enter and standard financial math, not financial advice or an offer of credit. Your actual rate, payment and terms depend on your credit, lender and other factors. Verify any number with the lender before you act.
Frequently asked questions
What's included in a monthly mortgage payment?
Four things, often called PITI: principal, interest, property taxes and homeowners insurance — plus PMI if your down payment is under 20%, and HOA dues if your home has them. This calculator totals all of them, not just principal and interest.
How much do I need for a down payment?
Putting down 20% lets you avoid PMI, but many loans allow far less. Under 20%, expect to pay PMI (around 0.5–1% of the loan per year) until you reach 20% equity. The calculator adds PMI automatically so you see the real payment.
Should I choose a 15-year or 30-year mortgage?
A 15-year loan has a higher monthly payment but a lower rate and far less total interest; a 30-year keeps payments low but costs much more over time. Switch the term in the calculator to compare both on the same home.