Finance
Estimate a mortgage payment from home price, down payment, rate, and term.
Results update as you type. No calculate button. All calculations run locally in your browser.
—
—
| Amount | |
|---|---|
| Principal & interest | — |
| Property tax (monthly) | — |
| Home insurance (monthly) | — |
| PMI (monthly) | — |
| HOA (monthly) | — |
| Total monthly payment | — |
Bars are scaled to the total monthly payment. Principal & interest is usually the largest slice; tax and insurance are estimates from the annual figures you enter.
Loan = home price − down payment. Loan-to-value = loan ÷ home price. Principal & interest uses the standard amortization formula on the loan amount. PMI applies only when loan-to-value exceeds 80%, at loan × PMI rate ÷ 12 per month. Tax and insurance are annual figures ÷ 12.
Home price $400,000 with $80,000 down: loan $320,000, loan-to-value 80.00%. At 6.5% for 30 years, principal & interest is $2,022.62. Add tax $400.00 and insurance $125.00 a month; PMI is $0 because loan-to-value does not exceed 80%. Total monthly payment $2,547.62.
Fixed rate for the whole term, PMI charged at a flat rate while loan-to-value exceeds 80% (real PMI usually drops off and is repriced), and no closing costs, points, or rate adjustments. Tax and insurance are assumed constant; in practice both change over time. Extra principal shortens the loan but is not included in the headline total above.
Here, only when the loan exceeds 80% of the home price. At exactly 80% there is no PMI in this model. Lenders also apply their own PMI rules and cancellation thresholds.
No. The headline total is the required monthly bill. Extra principal is voluntary and is shown separately so the required payment stays comparable.
The down payment is paid upfront, so only the remainder is borrowed. A larger down payment lowers both the loan and the monthly payment.
No. Both typically change year to year; this calculator spreads the annual figures you enter evenly across months.
No. Closing costs are paid at purchase and are not part of the monthly payment. The refinance calculator models them separately.
Results are estimates only and do not constitute professional advice.