Mortgage Payment Calculator
Calculate your monthly mortgage payment including principal, interest, taxes, insurance, PMI, and HOA fees.
Calculate your monthly mortgage payment including principal, interest, taxes, insurance, PMI, and HOA fees.
The total purchase price of the home.
Amount paid upfront. 20%+ avoids PMI.
Annual interest rate (APR).
Estimated yearly property tax amount.
Homeowner's insurance premium per year.
Homeowners Association fee per month (if applicable).
| # | Date | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | Apr 2026 | $262.30 | $1,866.67 | $319,737.70 |
| 2 | May 2026 | $263.83 | $1,865.14 | $319,473.87 |
| 3 | Jun 2026 | $265.37 | $1,863.60 | $319,208.50 |
| 4 | Jul 2026 | $266.92 | $1,862.05 | $318,941.58 |
| 5 | Aug 2026 | $268.48 | $1,860.49 | $318,673.10 |
| 6 | Sep 2026 | $270.04 | $1,858.93 | $318,403.06 |
| 7 | Oct 2026 | $271.62 | $1,857.35 | $318,131.44 |
| 8 | Nov 2026 | $273.20 | $1,855.77 | $317,858.24 |
| 9 | Dec 2026 | $274.79 | $1,854.17 | $317,583.45 |
| 10 | Jan 2027 | $276.40 | $1,852.57 | $317,307.05 |
| 11 | Feb 2027 | $278.01 | $1,850.96 | $317,029.04 |
| 12 | Mar 2027 | $279.63 | $1,849.34 | $316,749.41 |
Your monthly principal & interest payment is calculated using the standard amortization formula. The total monthly payment also includes property tax, homeowner's insurance, HOA fees, and PMI (if applicable).
M = P × [r(1+r)^n] / [(1+r)^n − 1]A $320,000 loan at 7.00% for 30 years gives a P&I payment of ~$2,129/month. With $400/month in taxes and insurance, the total PITI is ~$2,529/month.
On the same $320,000 loan, a 15-year term at 6.5% costs ~$2,790/month but saves over $130,000 in total interest compared to the 30-year option.
Calculations use standard amortization. PMI is estimated at 0.85% annually when LTV > 80%. Taxes and insurance are divided evenly across 12 months. Results are pre-tax and do not account for the mortgage interest deduction.