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Mortgage Payment Calculator
Most payment calculators show you principal and interest and stop there. That's usually 60–75% of what you'll actually pay each month, which is why so many buyers are surprised at closing.
This one includes property taxes, homeowners insurance, HOA dues and mortgage insurance, so the number you see is the number that leaves your account.
Your numbers
5% is the standard conventional example.
Applies while your loan-to-value is above 80%.
Your results
Total monthly payment
$2,832
Principal, interest, taxes, insurance, MI and HOA
- Principal & interest
- $2,102
- Property taxes
- $467
- Homeowners insurance
- $125
- Mortgage insurance
- $139
- Loan amount
- $332,500
- Down payment
- $17,500
- Total interest over the term
- $424,085
Drops off near 20% equity
What happens if you change this
At $350,000 with 5% down at 6.5%, your all-in payment is $2,832 — principal and interest are only $2,102 of that. Because you're under 20% down, mortgage insurance adds $139 a month and falls off as you reach roughly 20% equity. Going to 20% down would remove it and lower the payment by $139.
Ready for real numbers?
Estimates get you oriented. A pre-approval gets you an offer sellers take seriously.
Related calculators
- Home Affordability CalculatorWork backwards from your income and comfortable payment to the price range that actually fits.
- PMI CalculatorSee what private mortgage insurance costs you, and exactly when you can get rid of it.
- Cash to Close CalculatorThe single number that matters most at the start: how much you actually need in the bank.
- Extra Payment CalculatorSee how much time and interest a little extra principal each month actually saves.
Questions people ask
- Why is my payment higher than the principal and interest quote?
- Because taxes, insurance and mortgage insurance are collected monthly in escrow alongside principal and interest. On a typical Pennsylvania purchase they add 30–40% on top of the P&I figure.
- When does mortgage insurance go away?
- On conventional loans it can generally be removed as you approach 20% equity, and it cancels automatically at 78% of the original value. FHA mortgage insurance usually lasts the life of the loan when you put less than 10% down.
Estimates for education only — not a loan approval, rate quote, or commitment to lend. Actual figures depend on credit, property, program guidelines, and market conditions at the time of lock. Corie Adams · NMLS #1875205 · Network Funding, LP · NMLS ID #2279 · Equal Housing Opportunity.