FINANCE TOOL
Mortgage Calculator
Estimate your monthly mortgage payment, including tax, insurance, and PMI.
Estimated monthly payment
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Hover the chart to see the remaining loan principal at a given point in the term (principal & interest only, excluding tax/insurance/PMI).
About this tool
Estimate a full monthly mortgage payment — principal and interest, plus property tax, home insurance, and estimated PMI (private mortgage insurance, which typically applies when the down payment is under 20%). This gives a more realistic monthly figure than principal and interest alone.
This is an estimate for planning purposes. Actual loan terms, rates, taxes, and required insurance vary by lender and location — get a formal quote before making decisions.
Frequently asked questions
- What is PMI and why is it estimated automatically?
- PMI protects the lender if a borrower defaults, and is typically required when the down payment is below 20% of the home price. This estimates it at a common rate (0.5% of the loan amount annually) when that threshold isn't met, and shows $0 once the down payment reaches 20% or more.
- Why include property tax and insurance in a "mortgage" estimate?
- Most lenders bundle these into a single monthly payment (often called PITI: principal, interest, taxes, insurance) collected through an escrow account, so the real monthly cost is usually higher than principal and interest alone.
- How is the down payment percentage shown?
- It's calculated automatically as down payment ÷ home price, updating live as you adjust either field.