1. Enter price and down payment
Choose a dollar or percentage down payment. The difference becomes the starting loan amount.
Loans
Mortgage calculator
Estimate the complete monthly housing payment, compare a down payment as dollars or percent, and review the loan amortization schedule.
Estimated monthly payment
$3,105.44
Loan amount
$360,000.00
Principal and interest
$2,275.44
Total loan interest
$459,160.16
Down payment amount
$40,000.00
Estimated total PMI
$16,234.62
Estimated payoff term
360 mo
Payment schedule
A breakdown of each payment into principal, interest and extra repayment.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,275.44 | $325.44 | $1,950.00 | $359,674.56 |
| 2 | $2,275.44 | $327.21 | $1,948.24 | $359,347.35 |
| 3 | $2,275.44 | $328.98 | $1,946.46 | $359,018.37 |
| 4 | $2,275.44 | $330.76 | $1,944.68 | $358,687.61 |
| 5 | $2,275.44 | $332.55 | $1,942.89 | $358,355.05 |
| 6 | $2,275.44 | $334.36 | $1,941.09 | $358,020.70 |
| 7 | $2,275.44 | $336.17 | $1,939.28 | $357,684.53 |
| 8 | $2,275.44 | $337.99 | $1,937.46 | $357,346.54 |
| 9 | $2,275.44 | $339.82 | $1,935.63 | $357,006.73 |
| 10 | $2,275.44 | $341.66 | $1,933.79 | $356,665.07 |
| 11 | $2,275.44 | $343.51 | $1,931.94 | $356,321.56 |
| 12 | $2,275.44 | $345.37 | $1,930.08 | $355,976.19 |
The first 12 months are shown initially.
Actual escrow, PMI cancellation, taxes, insurance, closing costs and lender rules vary. This estimate is not a loan offer.
Calculation method
How the mortgage payment is calculated
Principal and interest use the standard amortization formula. The U.S. estimate then adds monthly property tax, homeowners insurance, HOA dues and PMI while the loan-to-value ratio is above the cancellation threshold.
Detailed guide
Estimate a complete monthly mortgage payment
A U.S. mortgage payment can include more than principal and interest. This calculator adds annual property tax and homeowners insurance, monthly HOA dues and estimated private mortgage insurance to the amortized loan payment.
PMI is modeled while the opening loan balance is above 80% of the home value. An optional extra principal payment rebuilds the amortization schedule and shows the shorter payoff term.
Calculate a mortgage
2. Add rate, term and housing costs
Enter the mortgage rate, term, annual tax and insurance, monthly HOA and estimated PMI rate.
3. Review payment and schedule
Compare principal and interest with the complete initial payment and download the amortization table.
Mortgage payment formula
P&I = Loan × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
The fixed principal-and-interest payment uses the monthly mortgage rate r and n payments. Tax, insurance and HOA are added as monthly estimates.
Estimated PMI is charged on the opening balance while loan-to-value is above 80%. Actual cancellation rules and premiums depend on the loan.
Mortgage payment example
For a $400,000 home with 10% down, the starting loan is $360,000. The complete payment adds the calculated principal and interest to one-twelfth of annual tax and insurance, monthly HOA and estimated PMI.
Costs to verify before buying
Escrow changes
Property taxes and insurance premiums can change, so the escrow portion of a real payment may rise or fall.
PMI cancellation
The model uses an 80% loan-to-value threshold. Federal rules and lender policies can use scheduled or requested cancellation dates and additional conditions.
Closing costs
Appraisal, origination, title and prepaid costs are not included unless you deliberately add financed costs to the home or loan assumptions.
Mortgage calculator questions
What does the monthly result include?
It includes principal, interest and the tax, insurance, HOA and PMI estimates entered.
When does PMI stop in this calculator?
It stops when the modeled opening loan balance reaches 80% of the original home price.
Does an extra payment reduce the term?
Yes. In fixed-payment mode, the extra amount is applied to principal each month and the schedule ends sooner.
Is this a mortgage quote?
No. It is an educational estimate and does not include lender underwriting or a binding rate.
Data sources
Updated: July 28, 2026
Useful comparisons