What's included in the monthly payment shown here?

Principal and interest (P&I) on the loan, plus one-twelfth of your annual property tax and homeowners insurance, monthly PMI if your down payment is under 20%, and any HOA dues you enter. Lenders often call this combination PITI (principal, interest, taxes, insurance).

What is PMI and when do I have to pay it?

Private mortgage insurance protects the lender if you default, and it's typically required whenever your down payment is below 20% of the home price. It's charged as a percentage of the loan balance per year, split into monthly payments, and usually cancels automatically once you reach 20% equity.

How is the monthly principal and interest payment calculated?

Using the standard amortization formula: M = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount (home price minus down payment), r is the monthly interest rate, and n is the number of monthly payments (years × 12).

Should I enter property tax as a yearly or monthly amount?

Enter the annual total — most property tax bills and estimates are given per year. The calculator divides it by 12 to add it to your monthly payment. If your county publishes a tax rate instead of a dollar figure, multiply it by the home price first.

Why does a bigger down payment lower my total cost by more than it looks like?

A larger down payment shrinks the loan amount, which lowers both the monthly principal & interest payment and the total interest paid over the full term. If it pushes you past 20% down, it also removes the PMI payment entirely — often the single biggest jump in savings.

Is my mortgage information private?

Completely. The calculator runs entirely in your browser with JavaScript. The home price, rate, and every other figure you enter are never sent to a server, logged, or stored anywhere.

Mortgage Calculator — Monthly Payment, Taxes & PMI

Home price

Down payment

Interest rate

% / yr

Loan term

years

Property tax (per year)

Home insurance (per year)

HOA (per month)

PMI rate (per year)

Loan amount

—

Down payment

—

Principal & interest

—

Property tax

—

Home insurance

—

HOA

—

Total monthly payment

—

Total interest over the loan term: —

Amortization schedule (principal & interest)

Enter the home price, down payment, interest rate, and term to see your full monthly payment — not just principal and interest, but property tax, homeowners insurance, PMI, and HOA fees too. A year-by-year amortization schedule shows exactly how the loan pays down over time. Every number is calculated in your browser; nothing you type is sent anywhere.

How it works

1
Enter the home price and down payment Type the purchase price and how much you're putting down. Use the quick percentage buttons (5%, 10%, 15%, 20%) to fill in a typical down payment instantly.
2
Add the rate, term, and extra costs Enter the annual interest rate and loan term, then fill in property tax, home insurance, HOA dues, and a PMI rate if you know them. Leave any of them blank to treat them as zero.
3
Read your full monthly payment The total monthly payment breaks down into principal & interest, tax, insurance, PMI, and HOA. Scroll the amortization table below to see the yearly or monthly breakdown of principal versus interest over the full loan term.

Your data stays private

All processing happens entirely in your browser. No files, text, or data are ever sent to our servers. You can disconnect from the internet and this tool will still work.

Frequently asked questions

What's included in the monthly payment shown here?: Principal and interest (P&I) on the loan, plus one-twelfth of your annual property tax and homeowners insurance, monthly PMI if your down payment is under 20%, and any HOA dues you enter. Lenders often call this combination PITI (principal, interest, taxes, insurance).
What is PMI and when do I have to pay it?: Private mortgage insurance protects the lender if you default, and it's typically required whenever your down payment is below 20% of the home price. It's charged as a percentage of the loan balance per year, split into monthly payments, and usually cancels automatically once you reach 20% equity.
How is the monthly principal and interest payment calculated?: Using the standard amortization formula: M = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount (home price minus down payment), r is the monthly interest rate, and n is the number of monthly payments (years × 12).
Should I enter property tax as a yearly or monthly amount?: Enter the annual total — most property tax bills and estimates are given per year. The calculator divides it by 12 to add it to your monthly payment. If your county publishes a tax rate instead of a dollar figure, multiply it by the home price first.
Why does a bigger down payment lower my total cost by more than it looks like?: A larger down payment shrinks the loan amount, which lowers both the monthly principal & interest payment and the total interest paid over the full term. If it pushes you past 20% down, it also removes the PMI payment entirely — often the single biggest jump in savings.
Is my mortgage information private?: Completely. The calculator runs entirely in your browser with JavaScript. The home price, rate, and every other figure you enter are never sent to a server, logged, or stored anywhere.

From the blog

How to Read a Mortgage Payment: PITI, PMI, and What Actually Changes It A practical breakdown of what makes up a monthly mortgage payment and which numbers actually move it. Read the post →