Estimate your full monthly payment — principal, interest, property tax, and insurance — for a fixed-rate mortgage.
Home & loan
$
$
%
Taxes & insurance
% of price
$
$
Your estimated payment
Total monthly payment (PITI + HOA)
$0
Principal & interest
$0
Loan amount$0
Down payment %0%
Monthly property tax$0
Monthly insurance$0
Total interest over loan term$0
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How to read your payment
"Principal and interest" is the part that pays down your loan balance and compensates the lender — this is what most mortgage ads quote. Your total monthly cost also includes property tax (billed by your county, usually escrowed into your payment) and homeowners insurance (required by every lender). A larger down payment lowers your loan amount directly, and above 20% down you typically also avoid private mortgage insurance (PMI), which this calculator doesn't add automatically. As of mid-September 2026, the average 30-year fixed rate in the U.S. is running close to 6.9%, per Freddie Mac's weekly survey — enter your own quoted rate for an exact number.
Common questions
Why is my payment higher than the "principal and interest" number I saw online?
Most advertised mortgage payments only show principal and interest. Property tax, homeowners insurance, and any HOA dues are added on top, and can easily add several hundred dollars a month depending on your county's tax rate.
How much should my down payment be?
20% avoids private mortgage insurance (PMI) on a conventional loan, but many buyers put down less — FHA loans allow as little as 3.5%. A smaller down payment means a larger loan, a higher payment, and more total interest over the loan's life.
Is a 15-year or 30-year mortgage better?
A 15-year loan carries a lower interest rate and builds equity faster, but the monthly payment is meaningfully higher because the balance is repaid over half the time. A 30-year loan keeps payments lower and more flexible, at the cost of more total interest paid.
Does this include closing costs?
No — closing costs (typically 2–5% of the loan amount) are a separate, one-time cost paid at signing, not part of the recurring monthly payment shown here.