Free mortgage payment calculator with PMI, property tax, home insurance, HOA, and extra-payment savings — updated for 2026 home loan rates. See your full amortization schedule and exactly how much a 30-year fixed rate mortgage really costs you over time, including taxes and insurance. No sign-up needed.
A mortgage calculator estimates your monthly home-loan payment from the loan amount, interest rate and term. It splits each payment into principal and interest, and can add property tax, homeowners insurance, PMI and HOA dues to show your true total monthly housing cost.
P&I, PMI, HOA, taxes, insurance & extra payments
Property taxes and insurance vary hugely by state. Pick yours for a calculator pre-loaded with local property-tax rates, typical home values, average insurance and colorful payment-breakdown charts.
This mortgage calculator goes beyond just principal and interest — it computes your all-in monthly payment including property tax, homeowners insurance, PMI (if applicable), HOA fees, and any other regular costs. For a $400,000 home with 20% down at 6.4% on a 30-year fixed rate mortgage, the P&I payment is approximately $2,005/month — but add a 1.2% property tax rate ($400/mo), $125/mo for insurance, and $278/mo for maintenance, and your true monthly cost is closer to $2,808. That's the number that matters for budgeting. Enter your extra payment amounts in the Extra Payments section to see exactly how many months you'd cut off the loan and how much total interest you'd save. Adding just $200/month extra to that same loan saves over $47,000 in interest and pays it off 5 years early.
The 30-year fixed rate mortgage is the most popular home loan in the US, held by roughly 90% of mortgage borrowers (Freddie Mac data). As of mid-2026, 30-year conforming rates hover around 6.37–6.45% — well above the historic lows of 2020–2021, but still lower than the late 1970s peak above 18%. The 2026 conforming loan limit is $832,750 for most US counties, with higher limits in high-cost metros like San Francisco, New York City, and Honolulu. For loans above the conforming limit, jumbo mortgage rates apply — typically 0.25%–0.5% higher than conforming rates, with stricter underwriting requirements.
When you search for a mortgage calculator with PMI and taxes, the reason is simple: principal and interest alone understate what you'll actually pay every month. The two biggest add-ons are property taxes and, if you put down less than 20%, private mortgage insurance (PMI). Take that same $400,000 home but with only 10% down ($40,000), leaving a $360,000 loan. At 6.4% the P&I is about $2,253/month. Now layer on the real costs: property tax at 1.2% adds ~$400/month, homeowners insurance ~$125/month, and PMI at roughly 0.6% of the loan adds ~$180/month. Your true payment jumps to about $2,958/month — nearly $700 more than the P&I figure most basic calculators show. PMI alone costs this borrower about $2,160 per year until they reach 20% equity. Use the PMI calculator to estimate your exact private mortgage insurance cost, and the PITI calculator to break your payment into principal, interest, taxes, and insurance.
Property taxes vary enormously by state — from under 0.3% of home value in Hawaii to over 2.2% in New Jersey — so a $400,000 home can carry anywhere from $100 to $730 per month in taxes depending on where you buy. Because your lender collects taxes and insurance through an escrow account, these costs are bundled into a single monthly payment rather than billed separately, which is why budgeting from the all-in number above matters far more than the principal-and-interest figure. Once your loan balance falls below 80% of the home's original value, federal law lets you request PMI cancellation — and your servicer must remove it automatically at 78%. If you're planning ahead, the mortgage payoff calculator shows how extra payments accelerate that milestone.
The core mortgage payment calculated by the amortization formula. In the first year of a 30-year loan, less than 25% of each payment reduces your principal — the rest is interest. By year 20, the split reverses. Extra payments early in the loan save dramatically more interest than extra payments later.
Required on conventional loans when your down payment is under 20%. PMI typically costs 0.5%–1.5% of the loan annually — on a $320,000 loan, that's $133–$400/month. PMI is automatically canceled under federal law (Homeowners Protection Act) when your balance reaches 80% of the original purchase price.
US property tax averages about 1.07% of home value annually but ranges from under 0.3% in Hawaii to over 2.2% in New Jersey. Your lender collects 1/12 of the annual tax bill each month into an escrow account and pays the county directly — you don't write a separate check, but it's part of your total housing cost.
One extra payment per year on a 30-year, 6.4% mortgage knocks nearly 4 years off the loan and saves about $60,000 in interest on a $320,000 loan. Even $100/month extra trims 3+ years and saves over $40,000. Use the Extra Payments section above to model your specific scenario and see the exact payoff date improvement.
A mortgage payment is an annuity solved backwards: the lender advances a sum today and the formula finds the constant monthly amount that repays it, with interest, over the term. The result is a level payment whose internal composition shifts continuously — early payments are overwhelmingly interest because interest is charged on a large outstanding balance, and only as that balance falls does principal take over. This is why paying five years into a thirty-year loan leaves far more than five-thirtieths of the debt outstanding, and why extra payments made early are worth several times the same money paid late.
M = P × [ i(1 + i)^n ] ÷ [ (1 + i)^n − 1 ]Monthly interest portion = outstanding balance × iPITI = M + property tax ÷ 12 + insurance ÷ 12where:
Assumptions: Assumes a fixed rate held for the full term and payments made on schedule. Property tax, homeowners insurance, PMI, HOA dues and any escrow shortfall sit outside M and are frequently a quarter to a third of the real monthly cost.
A $500,000 home with 20% down leaves $400,000 borrowed on a 30-year fixed at 6.5%.
Result$2,528.27 a month in principal and interest
Over 360 payments you repay $910,178 on a $400,000 loan — $510,178 of interest. In month one only 14% of the payment reduces the debt; the crossover where principal exceeds interest does not arrive until month 233, in year 20.