Mortgage Calculator with Taxes and Insurance
Estimate a fixed-rate mortgage payment, ongoing housing costs, PMI, payoff timing, and the full amortization schedule in one current-state model.
Mortgage inputs
Purchase price or current property value.
Cash paid upfront; cannot exceed home value.
Linked to the down payment amount.
Home value minus down payment.
Nominal annual mortgage rate.
Whole years from 1 to 50.
Controls conversion of the annual rate to each payment period.
Accelerated options use a fixed fraction of the monthly payment.
Loan schedule start; the first payment follows one payment period later.
Further specifications
Applied to the original loan while modeled balance remains above 80% of home value.
Annual tax estimate as a percentage of home value.
Annual premium allocated across payment periods.
Monthly association dues, allocated to the selected frequency.
Recurring housing costs not already entered above.
Live results
Estimated first-period payment
$740.28
Includes principal & interest plus active PMI and entered recurring costs.
Principal & interest payment
$684.03
Total interest
$111,249.06
Total PMI
$4,106.25
Taxes & insurance over term
$0.00
HOA & other over term
$0.00
Total all-in payments
$250,355.31
Payoff date
08/19/2056
Number of payments
360
Estimated first-period payment is $740.28.
Payment totals breakdown
Where the full repayment goes
Amortization schedule
| Period | Due date | Beginning balance | Principal | Interest | PMI | Property tax | Homeowner insurance | HOA | Other costs | Total payment | Ending balance |
|---|
Amounts use constant tax, insurance, HOA, and other-cost assumptions; actual escrow charges can change over time.
How to use this mortgage calculator
What this calculator does
This calculator estimates a fully amortizing fixed-rate mortgage and adds recurring ownership costs so you can view both the contractual principal-and-interest payment and a broader periodic housing-cost estimate. It produces a period-by-period amortization schedule, estimates private mortgage insurance (PMI) while the modeled balance remains above 80% of the entered home value, and totals property tax, homeowner insurance, HOA dues, and other recurring costs under constant assumptions. It is useful for comparing purchase scenarios, checking how a larger down payment changes borrowing and PMI, testing different rates or terms, and building a more complete housing budget. It is an estimate, not a lender quote, tax assessment, insurance proposal, affordability determination, or personalized financial advice.
When to use it
Use it when comparing homes at different prices, when deciding how much cash to put down, when reviewing a Loan Estimate against your own assumptions, or when you want to see how taxes and insurance can make the total periodic outlay higher than principal and interest alone. The Consumer Financial Protection Bureau explains that a total mortgage payment commonly includes principal, interest, taxes, and insurance (PITI), while HOA dues may be paid separately.
How to calculate
- The calculator opens with a complete demonstration: a $150,000 home, $15,000 down payment, 4.50% annual rate, 30-year term, monthly U.S.-style compounding, monthly payments, a first day of August 19, 2026, and a 0.50% PMI assumption. A validated example XLSX is immediately available.
- Replace the demonstration values with your own assumptions. Changing Down payment updates Down payment in percentage; editing the percentage updates the dollar amount. Loan amount is calculated automatically.
- Choose the Interest calculation method and Payment frequency. Regular frequencies amortize over the selected term; accelerated bi-weekly and weekly options use one-half or one-quarter of the corresponding monthly principal-and-interest payment and can finish earlier.
- Open Further specifications to enter PMI, property tax, homeowner insurance, HOA, and other recurring costs. Read the live results, payment breakdown, donut chart, and amortization table, then use Download Excel to export the current canonical model. Reset clears the demonstration and all entered data; the export is disabled until a complete valid state is entered again.
Input guide
Home value is a required U.S.-dollar amount greater than zero; enter plain digits or standard comma grouping, such as 150000 or 150,000. Down payment is a required nonnegative dollar amount no greater than Home value; $15,000 is a realistic example, and increasing it lowers Loan amount. Down payment in percentage is the linked required percentage from 0% through 100%; 10% corresponds to $15,000 on the demonstration home. Avoid entering both fields with inconsistent values – the field you edit most recently controls the other.
Interest rate is the required nominal annual percentage from 0% through 100%; 4.5 means 4.50%, not 0.045. A higher rate generally raises the payment and total interest. Loan term is a required whole number from 1 to 50 years; a longer term usually lowers each regular payment while increasing total interest. Interest calculation method is required: “Monthly compounding (U.S. nominal)” converts the nominal annual rate from a monthly base, while “Semiannual compounding (Canadian nominal)” converts from a twice-yearly base before matching the selected payment frequency. Payment frequency is required and accepts monthly, semi-monthly, bi-weekly, accelerated bi-weekly, weekly, or accelerated weekly schedules. First day is a required calendar date in the browser's date-control format; the demonstration uses 2026-08-19.
PMI annual rate is an optional percentage from 0% through 10%; 0.50% is the demonstration assumption. This model charges periodic PMI only when the original down payment is below 20% and the post-payment balance remains above 80% of the original Home value. Real cancellation rules depend on the loan and law, so compare this estimate with the CFPB's guidance on when PMI may be removed. Property tax annual rate is an optional 0% – 20% percentage of Home value; enter 1.2 for 1.20%, not 0.012. Homeowner insurance annual is an optional nonnegative annual dollar premium. HOA monthly and Other monthly costs are optional nonnegative monthly dollar amounts; do not duplicate a cost already entered elsewhere.
Output guide
Loan amount is Home value minus Down payment. Estimated first-period payment adds the period's principal and interest, active PMI, allocated property tax, homeowner insurance, HOA, and other costs. Principal & interest payment is the scheduled loan payment before those ownership costs. Total interest is interest accumulated through payoff. Total PMI is the modeled sum of PMI charges. Taxes & insurance over term combines the constant property-tax and homeowner-insurance assumptions over the generated schedule, while HOA & other over term combines those two recurring categories. Total all-in payments is principal, interest, PMI, taxes, insurance, HOA, and other modeled costs added together. Payoff date is the estimated final payment date and Number of payments is the schedule length.
The Payment totals breakdown and Where the full repayment goes chart use the same totals. The Amortization schedule columns show Period, Due date, Beginning balance, Principal, Interest, PMI, Property tax, Homeowner insurance, HOA, Other costs, Total payment, and Ending balance. Early fixed-rate rows usually contain more interest and less principal; later rows reverse that relationship. A zero in a recurring-cost column means the corresponding input is zero or, for PMI, no modeled charge applies.
Worked example
With the opening $150,000 Home value and $15,000 Down payment, Loan amount is $135,000 and the down payment share is 10.00%. At a 4.50% nominal annual rate over 30 years with monthly U.S.-style compounding, the periodic rate is 0.045 ÷ 12 and the 360-payment annuity formula gives a Principal & interest payment of $684.03. Those payments total $246,249.06, so Total interest is $111,249.06. Under the 0.50% PMI assumption, the periodic PMI contribution is $56.25 while the modeled balance remains above the 80% threshold; this produces $4,106.25 of Total PMI. With the other opening recurring-cost assumptions at zero, Estimated first-period payment is $740.28 and Total all-in payments are $250,355.31. The modeled Payoff date is 08/19/2056.
How the mortgage formula works
For a regular fixed-rate schedule, the principal-and-interest payment is the amount that makes the present value of all scheduled payments equal the opening loan balance. If the periodic rate is r, principal is P, and the number of payments is n, the payment is:
Payment = P × r ÷ (1 – (1 + r) – n). When r is zero, Payment = P ÷ n.
The schedule then calculates each period's interest from the beginning balance and periodic rate; principal is the loan payment minus that interest. The ending balance becomes the next period's beginning balance. This is why, on a standard fixed-rate mortgage, the combined principal-and-interest payment can stay level while the composition changes. The CFPB's explanation of how mortgage principal and interest change through time describes the same amortization pattern.
Interpreting taxes, insurance, and PMI
Taxes and insurance are budgeted here as constant recurring costs, not as extra principal. In practice, escrow amounts can change when tax bills or insurance premiums change. The CFPB's Loan Estimate explainer distinguishes principal and interest from the estimated total monthly payment and highlights mortgage insurance and escrowed charges. PMI is also loan-specific: the calculator's 80% balance threshold is a planning convention for the model, not a promise that a servicer will cancel PMI on that exact date. Confirm the actual requirements and any appraisal or request process with the lender or servicer.
Common comparison mistakes
Comparing only interest rates can miss differences in term, payment frequency, fees, taxes, insurance, and mortgage insurance. Another common mistake is entering an annual percentage as a decimal fraction – for example, typing 0.045 when the intended input is 4.5%. Do not count HOA dues twice by including them in Other monthly costs, and remember that a constant property-tax percentage applied to the original Home value is a simplifying assumption. For offer comparison, the CFPB notes that the total monthly mortgage payment can exceed principal and interest because of taxes, homeowners insurance, and mortgage insurance.