US Mortgage Calculator with Taxes, Insurance & PMI

What goes into a US mortgage payment?

The loan payment pays principal and interest. Housing costs can also include property taxes, homeowners insurance, mortgage insurance, and HOA fees. Some costs are paid through escrow; HOA fees may be paid separately. The total here combines the amounts entered so you can budget for them together.

Loan amount = home price − down payment.
Monthly housing estimate = principal & interest + annual property tax ÷ 12 + annual homeowners insurance ÷ 12 + monthly HOA + monthly PMI.

Example: 400,000 home with 20% down

A 320,000 loan at 6.5% for 30 years has an estimated principal-and-interest payment of 2,022.62 per month. Adding 4,800 annual tax and 1,800 annual insurance gives a monthly housing estimate of 2,572.62, before HOA or PMI.

How is PMI handled?

Enter a monthly PMI estimate from your lender, or zero when it does not apply. Conventional loans with down payments below 20% may require PMI, but pricing and requirements vary. The tool does not infer a PMI rate, determine eligibility, or model cancellation. FHA, VA, USDA, and adjustable-rate loan rules are outside this estimate.

Which costs are excluded?

Closing costs, maintenance, utilities, tax deductions, and future cost changes are excluded. Taxes and insurance may change while a fixed principal-and-interest payment stays steady. The amortization table tracks only the loan. Compare the result with a lender’s written Loan Estimate.

Reference and methodology

Background reading: CFPB: components of the monthly mortgage payment; CFPB: private mortgage insurance. Calculations use the formulas and assumptions explained on this page.

About this calculator

Prepared by the UtilitiesWeb team at The Alpha 1 Company. Estimates are educational illustrations, not personalised financial advice, lending decisions, or guaranteed outcomes. Verify important decisions against provider documents and qualified advice where needed.

Methodology updated: 1 November 2026. Example rates and costs are assumptions, not live market quotes. Amounts are calculated at full precision and rounded for display.