Mortgage Calculator with Taxes, Home Insurance & PMI (2026)
Calculate your true monthly house payment including principal, interest, property taxes, home insurance, and PMI.
Interactive US Mortgage Calculator
Calculate PITI: Principal, Interest, Taxes, Hazard Insurance & PMI.
Loan Principal Financed: $340,000
What this tool does and who it is for
This calculator estimates what a US home loan will cost you each month. Enter the price, down payment percentage, rate, term, property tax, insurance and HOA dues, and it returns a full monthly housing payment: principal and interest, escrow items, and an estimated PMI line when you put down less than 20%.
The sliders are set up around the choices buyers actually argue about: 15-year versus 30-year fixed, and how far the payment drops (and the PMI charge disappears) as the down payment moves toward 20%. The defaults are a $425,000 home with 20% down at 6.75%, which you should replace with your own quotes.
Treat the answer as a budgeting figure, not a Loan Estimate. Lenders price by credit score, loan type and points, and your tax bill can change after a reassessment. Use this to decide what range to shop in, then compare real offers line by line.
Official Formula / Technical Standard
Real-World Worked Scenario
On a $400,000 home with 20% down ($80,000 down payment, $320,000 loan) at 6.75% interest over 30 years: Base P&I is $2,075.63/mo. Adding $375/mo property taxes and $125/mo hazard insurance yields a true total monthly payment of $2,575.63.
When people use it
Checking an affordability range before house hunting
Run three or four price points with the same rate and see where the all-in payment crosses the monthly number you are comfortable with. It is much easier to set a ceiling now than to talk yourself down after a showing.
Seeing what PMI really costs on a smaller down payment
Slide the down payment from 20% to 5% and watch the PMI line appear. That gap helps you decide whether to wait and save, ask about a piggyback loan, or accept PMI and drop it later.
Comparing 15-year and 30-year terms
The 15-year payment is higher, but the total interest line shrinks sharply. Flip between the two buttons to see whether the shorter term is a stretch or just a bit uncomfortable.
Budgeting for a condo or HOA community
Add the monthly HOA figure from the listing so it is part of the payment from the start. Many first-time buyers forget it until the lender's debt-to-income math includes it.
Notes for US users
- Property tax varies enormously by county, and in many states the bill resets toward the purchase price after a sale. Look up the actual tax for the specific address rather than using the default.
- The PMI estimate is a flat rough percentage of the loan per year, applied only below 20% down. FHA loans use mortgage insurance premiums with different rules, and VA loans have a funding fee instead.
- Lenders usually collect tax and insurance into an escrow account, so the monthly figure here is the number your servicer would bill, not just the principal and interest.
- Flood or wind insurance, if your area requires it, is not a separate field. Add it into the home insurance box.
Limits and what to double-check
- •It assumes a fixed-rate loan. Adjustable-rate mortgages, interest-only periods, points, closing costs and prepaid items are not modeled.
- •There is no month-by-month schedule, and the PMI amount is a rough estimate, so ask lenders for the exact quote and the date PMI can be removed.
- •Taxes and insurance are held flat. In real life both tend to climb, so your escrow payment can change even on a fixed-rate loan.
Expert Best Practices & Common Pitfalls
Recommended Best Practices
- •Aim for a 20% down payment whenever possible to eliminate monthly Private Mortgage Insurance (PMI) fees.
- •Verify the specific property tax rate of the target county; county millage rates vary significantly even between adjacent school districts.
- •Keep your total housing payment (PITI) under 28% of your gross monthly household income (the standard front-end debt-to-income ratio).
Common Mistakes to Avoid
- •Forgetting to factor in Homeowners Association (HOA) fees or annual property tax reassessments.
- •Assuming advertised teaser interest rates apply without checking the required discount points or credit tiers.
- •Underestimating hazard insurance premiums, especially in coastal or flood-prone regions.
Features & Security Architecture
- 100% Client-Side: Zero server uploads ensure complete privacy and data confidentiality
- Fast Results: Processing happens on your own device, so there is no upload or server queue to wait for
- No Sign-Up Required: Completely free to use with no daily usage caps or account requirements
- Works on All Devices: Fully responsive across desktop, tablet, and mobile browsers
Frequently Asked Questions
What is the difference between fixed-rate and adjustable-rate mortgages (ARM)?▼
A fixed-rate mortgage locks in your interest rate and monthly principal and interest payment for the entire loan duration (typically 15 or 30 years). An ARM starts with a lower promotional rate for a set period (such as 5 or 7 years) after which the rate adjusts periodically based on benchmark market rates.
How does Private Mortgage Insurance (PMI) work?▼
If you put down less than 20% on a conventional home loan, lenders require PMI to protect against default. PMI usually costs between 0.3% and 1.5% of the original loan amount annually and can generally be cancelled once you reach 20% home equity.
Is my personal data saved when using this calculator?▼
No. All interest formulas and amortization schedules execute strictly within your local browser JavaScript engine. We never transmit, store, or sell your financial figures.
Why is my lender's payment higher than the number here?▼
Usually it is escrow. Actual property tax, insurance premiums and mortgage insurance rarely match the defaults. Lender quotes can also include points, a different rate based on your credit score, or flood insurance. Replace each input with the figure from your Loan Estimate and the totals should land much closer.
How much house can I afford with this tool?▼
The tool does not set a limit; it shows the payment for a price you pick. Try several prices until the total fits your budget, then check it against lender guidelines on debt-to-income. A payment you can technically qualify for is not always one that leaves room for repairs and savings.
Does the calculator include closing costs?▼
No. Closing costs, prepaid taxes and insurance, and any points are paid at the table and are not rolled into the monthly figure. Plan on a separate cash cushion beyond the down payment, and ask your lender for a Loan Estimate to see the actual dollar amounts.
Is a 3% or 5% down payment realistic?▼
Some conventional and government-backed programs allow low down payments, and the slider covers the full range. Eligibility depends on your credit, income and the program, so the calculator shows the payment impact only. Ask a lender which programs you qualify for before counting on one.