Does it include every housing cost?

No. Maintenance, utilities, closing costs, HOA fees and changes in taxes, insurance or PMI are outside this model.

Is PMI automatically removed?

No. The entered monthly PMI amount stays constant. Your actual cancellation rules and lender charges require a separate check.

Mortgage Calculator

Estimate a fixed-rate monthly mortgage payment.

Help & examples All tools

Fixed-rate estimate in USD. PMI is entered as a monthly percentage of the loan. Taxes, insurance and PMI stay constant; closing fees and HOA costs are excluded.

Home Price ($)

Down Payment ($)

Down Payment (%)

Interest Rate (%)

Loan Term (years)

Property Tax (% annual)

Home Insurance ($/year)

PMI (% monthly)

Total Monthly Payment

$3,116.96

Down payment uses the last edited dollar or percentage field. Monthly PMI uses the entered monthly rate, not an annual rate. Principal + interest total excludes taxes, insurance and PMI.

Monthly$3,116.96

Principal & Interest

$1,516.96

Property Tax

$300.00

Insurance

$100.00

PMI

$1,200.00

Loan Amount

$240,000.00

Total Interest Paid

$306,106.77

Principal + interest total

$546,106.77

Calculators Local processing

Last reviewed: 2026-10-04 · Testing methodology

How to use

Compare principal and interest with constant tax, insurance and monthly PMI estimates.

Enter the home and loan terms

Enter the home price, a nonnegative down payment below the price, annual nominal rate and term in years.

Set the expense units carefully

Property tax is an annual percentage of home price; insurance is an annual dollar amount; PMI is a monthly percentage of loan principal. Use zero when an item does not apply.

Compare the breakdown

Review each monthly component and interest total. The result is an estimate under fixed assumptions rather than a complete ownership budget.

Limits and questions

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A result you can check

A $12,000 home with zero down, 0% interest, one-year term and zero expenses gives $1,000 monthly principal and interest.

Before using the result

A PMI value of 0.5 means 0.5% per month here, not per year. Convert an annual percentage to a monthly one before entering it.

Frequently asked questions

Does it include every housing cost?: No. Maintenance, utilities, closing costs, HOA fees and changes in taxes, insurance or PMI are outside this model.
Is PMI automatically removed?: No. The entered monthly PMI amount stays constant. Your actual cancellation rules and lender charges require a separate check.