Use our free, easy-to-use mortgage calculator to estimate your monthly payments in United States. Include property tax, insurance, and PMI for accurate results. Plan your home purchase today!
Our mortgage calculator uses your input for loan amount, interest rate, loan term, property tax, home insurance, and PMI to estimate your monthly mortgage payment and total payment over the life of the loan.
PMI stands for Private Mortgage Insurance. It’s typically required when you put down less than 20% of the home’s value. We’ve included it in the calculator for a more accurate estimate of your total monthly payment.
Yes, you can use this calculator to estimate payments for both new mortgages and refinancing options. Simply input the new loan terms you’re considering.
While our calculator provides a good estimate, the actual terms of your mortgage may vary based on factors like credit score, down payment, and specific lender policies. Always consult with a mortgage professional for precise figures.
The monthly payment is what you’ll pay each month, including principal, interest, taxes, insurance, and PMI. The total payment is the sum of all monthly payments over the entire loan term.
This calculator is designed for fixed-rate mortgages. For ARMs, you’d need to recalculate as the interest rate changes over time.
Property taxes and home insurance are often included in your monthly mortgage payment and held in an escrow account. Including these gives you a more accurate picture of your total monthly housing costs.