Looking for a mortgage calculator with taxes and insurance? This free tool gives you principal, interest, property tax, insurance and HOA in one monthly payment. Just enter your numbers and press Calculate — results are instant.
A mortgage payment has four parts: principal and interest on the loan itself, plus property tax and home insurance, which lenders usually collect monthly into an escrow account, plus any HOA fee. First subtract the down payment from the home price to get the loan amount, then work out the principal-and-interest part with the standard loan formula, then add one twelfth of the yearly tax and one twelfth of the yearly insurance. The total is the real monthly cost of the house, not just the loan.
Example: Home price $400,000 · Down payment $80,000 · Term 30 years · Rate 6.5% · Tax 1.1% · Insurance $1,800/year · HOA $0
Total Monthly Payment: $2,539.28
Principal, Interest, Taxes and Insurance — the four parts of a typical mortgage payment. This calculator adds all four, plus HOA if you enter one, so the total is the real monthly cost of the house.
It depends on the loan: many lenders want 20% to avoid PMI (private mortgage insurance), but some loans allow much less. A bigger down payment means a smaller loan, a smaller payment and less interest overall.
No. It includes principal, interest, property tax, insurance and HOA, but not PMI. If your down payment is under 20%, your lender may add PMI on top of the payment shown here.
A 15-year loan usually has a lower rate and far less total interest, but the monthly payment is much higher. A 30-year loan costs more in total but is easier to afford month to month. Run both terms here and compare the total interest.