Calculator · Buy and hold

Mortgage payment calculator

Monthly principal and interest, plus property tax, insurance and HOA for the full monthly payment.

Results

Updates as you type. The formulas are under "How this is calculated" below.

Total monthly payment (PITI + HOA)
Principal and interest
Property tax / month
Insurance / month
HOA / month

Loan

Down payment
Loan amount
Total interest over the term

How to use this calculator

Enter the home price and your down payment percentage.
Enter the interest rate and loan term in years.
Enter the property tax rate, yearly insurance and monthly HOA dues.
Read the total monthly payment and the breakdown. The loan section shows total interest.

Worked example

Say you buy a $500,000 home with 20% down at 6.5% over 30 years (the values loaded above).

The down payment is $100,000 and the loan is $400,000.

Principal and interest is $2,528.27 a month.

Property tax at 1.1% adds $458.33 and insurance adds $150.00, for a total of $3,136.61 a month.

If you keep the loan to the end with no extra payments, total interest is $510,178.

How this is calculated

Loan = price - down payment.
P&I = P x r / (1 - (1 + r)^-n) with P = loan, r = annual rate / 12, n = years x 12. At 0% it is P / n.
Tax / month = price x tax rate / 12. Insurance / month = yearly premium / 12.
Total interest = P&I x n - loan, if you keep the loan to the end with no extra payments.

Does not include PMI, which lenders often charge below 20% down.

Frequently asked questions

What is included in PITI?

PITI stands for principal, interest, taxes and insurance. This calculator also adds HOA dues. It does not include PMI, utilities or maintenance.

Does this include PMI?

No. Lenders often charge private mortgage insurance when the down payment is below 20 percent. Ask your lender for the amount, then add it to the result.

How much interest will I pay over the loan?

The calculator shows total interest if you keep the loan to the end with no extra payments. Extra payments or a refinance would change it.

Can I use this for an investment property?

Yes for the payment itself, but investment loans often have higher rates and larger down payments. Check current terms with your lender.