A 400,000 home with 20% down at 6.5%
Loan 320,000 over 30 years: principal and interest 2,022.62, plus 400 tax and 125 insurance a month = 2,547.62. Total interest: 408,142.36.
Mortgage Calculator
Estimate your monthly mortgage payment with down payment, property tax, home insurance and HOA fees.
Result
Enter your values and select Calculate to see the result.
Runs in your browser — nothing you enter is sent to a server.
How the Mortgage Calculator works
Enter the home price, your down payment as a percentage, the interest rate and the term. Add the yearly property tax and home insurance and any monthly HOA fees to see the full monthly cost — what lenders often call PITI (principal, interest, taxes and insurance).
Principal and interest use the standard fixed-rate amortization formula, the same as the Loan Calculator. Tax and insurance are divided by 12 and added on top; the table shows how the loan balance falls each year.
Formula
payment = M + tax ÷ 12 + insurance ÷ 12 + HOA
Where:
- M
- Principal and interest: P × i ÷ (1 − (1 + i)−n)
- P
- Loan amount: price − down payment
- i
- Monthly rate: annual rate ÷ 12
- n
- Number of monthly payments
Examples
A 300,000 home with 10% down at 7%
Loan 270,000 over 30 years: 1,796.32 a month for principal and interest, and 376,674.03 in interest overall.
Frequently asked questions
What is PMI and is it included?
Private mortgage insurance is often required when you put down less than 20%. Its cost depends on the lender and your credit, so it isn't included — ask your lender and add it to the HOA field if you want it in the total.
How much does a bigger down payment save?
You borrow less, so both the payment and the total interest fall. In the first example, every extra 10,000 down cuts the monthly principal and interest by about 63.
How is this different from the Loan Calculator?
The Loan Calculator covers any fixed-rate loan. This one adds what home buyers pay on top — the down payment, property tax, insurance and HOA fees.
Information:
Good to know
Results are estimates for planning. They aren't financial advice, and real returns, rates and fees vary.
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