Mortgage Payment Calculator (USA)
Estimate your monthly mortgage payment in the US (principal & interest, property tax, homeowners insurance, PMI, and HOA).
Loan details
Taxes, insurance & fees
PMI (optional)
Results
Monthly breakdown
Breakdown table
| Item | Monthly | Yearly |
|---|---|---|
| Principal & interest | $— | $— |
| Property tax | $— | $— |
| Homeowners insurance | $— | $— |
| PMI | $— | $— |
| HOA | $— | $— |
| Total | $— | $— |
How a US mortgage payment is calculated
A typical US mortgage payment includes more than just principal and interest. Many homeowners pay an “all-in” monthly amount that combines the loan payment (principal and interest) with property tax and homeowners insurance. If you put less than 20% down on a conventional loan, you may also pay PMI (private mortgage insurance) until you reach sufficient equity. Condos and some communities also include HOA fees.
What’s included in this calculator
This calculator estimates your principal-and-interest payment using the loan amount, APR, and term. Then it adds monthly equivalents for property tax and insurance, plus PMI and HOA if applicable. The result is a realistic monthly number you can use for budgeting and comparing scenarios.
Tips to lower your payment
If the total monthly payment is higher than expected, try adjusting one factor at a time. A larger down payment reduces the loan amount and may remove PMI. Shopping for a lower rate can have a major impact over 30 years. You can also compare terms: a 15-year mortgage usually has higher monthly payments but lower total interest. Finally, remember that property taxes and insurance can vary dramatically by location.
FAQ
Is this the same as my lender’s exact payment?
Not always. Lenders may escrow taxes and insurance, and specific fees can differ by loan program. This tool is designed for planning and comparison.
When does PMI apply?
PMI commonly applies on conventional loans when your down payment is below 20%. You can enter a monthly PMI amount or let the calculator estimate PMI as a simple planning number.
How do I estimate property taxes if I don’t know them?
If you don’t have an annual property tax estimate, use the “% of home price” option as a rough starting point, then refine it using your county or assessor estimate.
What’s the difference between total payment and principal & interest?
Principal & interest is the loan payment only. Total payment adds taxes, insurance, PMI, and HOA to reflect what many homeowners actually pay each month.
Disclaimer: Estimates only. Rates and fees vary by lender, location, and loan program. Confirm final numbers with a lender and local tax authority.