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Mortgage Calculator

Estimate your exact monthly mortgage payment, including property taxes, home insurance, and HOA fees.

Property & Loan Details
Enter your home price, down payment, and rates.
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Estimated Monthly Payment
$2,456
Payment Breakdown
CategoryMonthly Amount
Principal & Interest$2,023
Property Tax$333
Home Insurance$100
HOA Fees$0
Total Loan Amount
$320,000
Total Interest Paid
$408,142
Table of Contents
Understanding Mortgages

A true mortgage payment consists of more than just paying off the bank. It is commonly referred to as PITI: Principal, Interest, Taxes, and Insurance.

The Hidden Costs

Many first-time homebuyers use basic loan calculators (like an EMI calculator) and are shocked when their actual monthly bill is hundreds of dollars higher.

  • Escrow: Lenders usually require you to pay your annual property taxes and homeowners insurance directly to them in 12 monthly installments. They hold this money in an "escrow" account and pay the bills on your behalf at the end of the year.
  • HOA Fees: If you buy a condo or a house in a regulated community, you will have to pay monthly Homeowners Association fees. These are not paid to the lender, but they are a mandatory monthly housing expense.
Frequently Asked Questions

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