What This Calculator Does
This calculator adds up every regular component of a monthly mortgage payment: principal and interest on the loan itself, property taxes and homeowners insurance held in escrow, private mortgage insurance (PMI) if applicable, and homeowners association (HOA) dues where they apply.
The Formula
Principal and interest use the standard amortization formula M = P × [r(1+r)^n] / [(1+r)^n – 1]. Annual property tax and insurance are each divided by 12 to get a monthly escrow contribution, and the monthly PMI and HOA amounts you enter are added directly, since those figures come from your loan estimate or HOA statement rather than a standard formula.
This tool is for general planning and educational purposes. Your actual escrow payment may be adjusted periodically by your loan servicer based on updated tax and insurance bills.