Estimate the monthly payment on a home loan including taxes and insurance.
Estimate the monthly payment on a home loan including taxes and insurance.
Enter values above and click Calculate — results will appear here with the formula explained.
A mortgage payment usually has four parts — principal, interest, taxes and insurance (PITI). Only the first two go to the lender; the formula for them is identical to any amortizing loan, applied to the amount you actually borrow (price minus down payment).
Your down payment changes the picture twice: it shrinks the loan itself and, once it reaches 20% of the price, typically removes private mortgage insurance (PMI) as well. Property tax and insurance are location-driven costs that can add hundreds per month, so they're worth estimating rather than ignoring.
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A mortgage payment usually has four parts — principal, interest, taxes and insurance (PITI). Only the first two go to the lender; the formula for them is identical to any amortizing loan, applied to the amount you actually borrow (price minus down payment). Formula: PI = L·r(1+r)ⁿ/((1+r)ⁿ−1); total monthly = PI + annual tax/12 + annual insurance/12
Mortgage Calculator computes estimate the monthly payment on a home loan including taxes and insurance. Formula: PI = L·r(1+r)ⁿ/((1+r)ⁿ−1). Example: A $350,000 home with $70,000 down leaves a $280,000 loan.
Estimate the monthly payment on a home loan including taxes and insurance. Formula: PI = L·r(1+r)ⁿ/((1+r)ⁿ−1); total monthly = PI + annual tax/12 + annual insurance/12
| Field | What to enter |
|---|---|
| Home price ($) | e.g. 350000 |
| Down payment ($) | e.g. 70000 |
| Interest rate (annual) (%) | e.g. 6.5 |
| Term (years) | 30 |
| Property tax per year (optional) ($) | e.g. 4200 |
| Insurance per year (optional) ($) | e.g. 1500 |
All fields use the exact formulas shown below — results include step-by-step breakdowns you can verify by hand.
A mortgage payment usually has four parts — principal, interest, taxes and insurance (PITI). Only the first two go to the lender; the formula for them is identical to any amortizing loan, applied to the amount you actually borrow (price minus down payment).
Your down payment changes the picture twice: it shrinks the loan itself and, once it reaches 20% of the price, typically removes private mortgage insurance (PMI) as well. Property tax and insurance are location-driven costs that can add hundreds per month, so they're worth estimating rather than ignoring.
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A $350,000 home with $70,000 down leaves a $280,000 loan. At 6.5% over 30 years, principal and interest are about $1,769.82/month. Adding $4,200 tax and $1,500 insurance brings the estimate to roughly $2,236/month.
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