YieldBadger

Mortgage payment calculator

Your full monthly payment: principal, interest, taxes and insurance (PITI), plus HOA and PMI.

Fill with local data

Enter a ZIP or address to fill property tax and mortgage rate. Every value stays editable.

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Loan
$
%
%
yrs
Taxes, insurance & fees
$
$
$
%
Monthly payment
$2,814
Principal & interest
$2,023
Property tax
$500.00
Insurance
$291.67
HOA
$0.00
PMI
$0.00
Loan amount
$320,000
Total interest over the loan
$408,142
Monthly payment$2,814

How this is calculated

  1. 1Loan amount = home price × (1 − down payment %).
  2. 2Principal & interest = L × r ÷ (1 − (1 + r)−n), where L is the loan, r the monthly rate (annual rate ÷ 12) and n the number of monthly payments.
  3. 3Taxes and insurance = yearly amounts ÷ 12.
  4. 4PMI = loan × PMI rate ÷ 12, only when the down payment is under 20%.
  5. 5Total interest = principal & interest × n − loan amount.

PMI on conventional loans can usually be removed once you reach 20% equity; this calculator shows the starting payment.