Free tool · Mortgage calculator
What will your monthly mortgage payment be?
Enter the home price, your down payment and the rate you have been quoted. The payment updates as you type and includes property tax, insurance, PMI and HOA dues.
What Goes Into a Mortgage Payment
Principal and interest
The loan itself. Early payments are mostly interest. Over time more of each payment goes to paying down what you owe.
Property tax and insurance
Usually collected with your payment and held in an escrow account, then paid to the county and your insurer when the bills come due.
PMI
Private mortgage insurance protects the lender when you put down less than 20%. It typically comes off once you owe less than 80% of the home’s original value.
Questions
How accurate is this estimate?
It is a close estimate for a fixed-rate loan. Your lender’s numbers will differ slightly because of exact tax amounts, insurance quotes, closing costs and how PMI is priced for your credit.
Where do I find my property tax?
Your county assessor’s website lists the tax on any property. For a home you have not bought yet, the listing often shows last year’s tax.
When does PMI come off?
On most conventional loans, you can ask to remove it once you owe 80% of the original value, and it ends automatically at 78%. The calculator shows roughly when that happens.
Is my information saved?
No. The calculator runs in your browser and nothing you enter is sent or stored.
More free tools: the case converter, the stopwatch, or see all free tools.
Real Estate or Lending Business?
We build websites for local businesses, including real estate offices, lenders and builders, with tools like this one built in. If your website could be bringing in more buyers, we would be glad to talk.
