Mortgage Payment Calculator
Principal, interest, property tax, home insurance, PMI and HOA — estimated for any US home purchase.
Your numbers
Estimated monthly payment
$2,744.82
on a $340,000 loan over 30 years
- Principal & interest$2,205.23
- Property tax$389.58
- Homeowner's insurance$150.00
- Loan amount
- $340,000
- Down payment
- $85,000
- Total interest
- $453,884
- Payments
- 360 months
An estimate for planning only. Your lender's figures will differ with credit profile, escrow requirements and local tax assessment.
Frequently asked questions
What is PITI?+
PITI stands for principal, interest, taxes and insurance - the four parts of a typical monthly mortgage payment. Principal and interest repay the loan, while property tax and homeowner's insurance are usually collected monthly into an escrow account and paid on your behalf.
Does this calculator include PMI?+
Yes. When the down payment is below 20%, private mortgage insurance is estimated at 0.55% of the loan amount per year and added to the monthly payment. PMI generally falls away once you reach 20% equity in the home.
Why is my lender's quote different?+
This is a planning estimate. A lender's figure reflects your credit profile, the exact rate you lock, the county's assessed value rather than the purchase price, actual insurance premiums, and any escrow or prepaid items collected at closing.
How much house can I afford?+
A common guideline is keeping the total monthly payment at or below 28% of gross monthly income, with all debt payments under 36%. Enter different home prices above to see what fits that range for your situation.
What goes into a monthly payment
- Principal & interest
- Repaying what you borrowed, plus the lender's charge for lending it. Fixed for the life of a fixed-rate loan.
- Property tax
- Set by your county as a percentage of assessed value. Usually collected monthly into an escrow account.
- Homeowner's insurance
- Required by lenders. Also commonly escrowed and paid as part of the monthly payment.
- PMI & HOA
- Mortgage insurance applies below 20% down; HOA dues apply in managed communities and are never escrowed.