Home Mortgage Calculator
Estimate your total monthly home mortgage payment, including principal, interest, taxes, insurance, and private mortgage insurance (PMI) if applicable.
What This Calculator Does
This home mortgage calculator estimates your full monthly housing payment by combining principal and interest on your loan with estimated property tax, homeowners insurance, and private mortgage insurance (PMI) when your down payment is below 20%.
The Formula
Principal and interest are calculated with the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n – 1], where P is the loan amount (home price minus down payment), r is the monthly interest rate, and n is the number of monthly payments. PMI is estimated as a percentage of the loan balance per year, divided by 12, and only applied when your down payment is under 20% of the home price.
This tool is for general planning and educational purposes only. Actual loan terms, PMI rates, and closing costs vary by lender and borrower profile, so treat the results as an estimate rather than a formal loan quote.