Mortgage Calculator
Your monthly housing payment is more than principal and interest. This adds property tax, insurance, HOA dues and PMI so the number matches what leaves your account.
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How it works
Loan = price x (1 - down payment). Principal and interest = L x r / (1 - (1 + r)^-n), with r = rate / 12 and n = years x 12. Monthly total = principal and interest + tax / 12 + insurance / 12 + HOA + PMI. PMI = loan x PMI rate / 12 when the down payment is under 20%.
FAQ
Why is my lender's payment different?
Lenders use your actual tax bill, insurance quote and escrow cushion. Enter those numbers for a closer match.
When does PMI go away?
On a conventional loan PMI usually ends once you reach 20% to 22% equity. This calculator shows the starting payment.
Does this include closing costs?
No. Closing costs are paid up front, not in the monthly payment.
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Estimates, not tax or financial advice. Check important numbers with a qualified professional.