Free mortgage payment calculator with PMI, HOA, property tax, and extra payment savings — updated for 2025 home loan rates. See your full amortization schedule and how much a 30-year fixed rate mortgage really costs you over time. No sign-up needed.
P&I, PMI, HOA, taxes, insurance & extra payments
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-2025, 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 2025 conforming loan limit is $806,500 for most US counties (up from $766,550 in 2024), 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.
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.