Mortgage Payment Calculator USA — Principal, Interest, Tax & Insurance

How to estimate a mortgage payment

Loan amount equals home price minus down payment. For a fixed-rate loan, monthly principal and interest use the standard amortization payment formula: loan × r ÷ (1 − (1+r)⁻ⁿ), where r is the monthly interest rate and n is the number of monthly payments. At a 0% rate, divide the loan by n.

Add your own annual property tax and homeowners insurance divided by 12, plus monthly HOA dues and mortgage insurance where applicable. The result is a planning estimate, not a lender quote.

What is included—and excluded?

The tool includes principal, interest, property tax, homeowners insurance, HOA and any monthly PMI amount you enter. It does not automatically estimate PMI eligibility, closing costs, repairs, utilities, inflation, rate changes, tax changes, special assessments or mortgage points. Property tax, insurance and PMI may change over time. The calculator assumes a fixed interest rate, regular payments and no additional principal payments.

Example

A $400,000 home with $80,000 down creates a $320,000 mortgage. Enter a 30-year term and 6.5% annual interest to see the estimated principal and interest, then include your location-specific taxes and insurance to estimate the total payment.

Official US mortgage resources

Read the CFPB explanation of mortgage payment calculations and the difference between principal and interest and total monthly housing costs.

Related guide: The real cost of buying a home.

Educational estimate only. Not a loan offer or individualized financial advice.