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Everything in one monthly number

Mortgage Calculator the price of the house

The payment you actually make is not just the loan. This one adds property tax, insurance, HOA fees and — while the loan is above 80% of the value — mortgage insurance.

Short answerLast edited October 31, 2026

The Mortgage Calculator estimates the full monthly cost of a home loan: principal, interest, property tax, insurance and any HOA fee, plus the total interest over the term. A 300,000 loan at 6% over 30 years has a principal and interest payment of about 1,798.65 a month before tax and insurance.

How it works

1

Enter the loan

Add the amount, the interest rate and the term.

2

Add the extras

Include taxes or insurance if the payment should cover them.

3

Read the payment

See the monthly figure and the total interest over the term.

Answers before the viewing

Below 20% down, most lenders add mortgage insurance until the balance falls under 80% of the value. Going from 10% to 20% down usually removes that charge and lowers the payment more than the extra cash suggests.

The down payment is not the only cash you need: closing costs, taxes and moving usually add another 3–5% of the price.

What a longer term really costs

A $320,000 home, 15% down, 6.4% rate. The monthly difference is modest; the lifetime difference is not.

TermMonthly principal + interestTotal interestInterest as a share
10 years$3,183$110,00040% of the loan
15 years$2,362$153,00056% of the loan
20 years$1,989$205,00075% of the loan
30 years$1,698$339,000125% of the loan
Before you make an offer
  • Get a written pre-approval from a bank
  • Budget for closing costs, not just the down payment
  • Add up tax, insurance and any HOA fee
  • Leave room for repairs in year one
  • Compare the APR, not only the interest rate
  • Ask what happens if you pay early
What does PITI mean?
Principal, interest, taxes and insurance — the four parts of a mortgage payment. The calculator adds HOA dues and mortgage insurance to that list.
When does mortgage insurance stop?
Usually when the balance falls below 80% of the home value, which this tool models automatically. Ask your lender how it is removed in your contract.
Why is my bank payment different?
Banks round, collect taxes in escrow with a buffer and may charge fees that are not part of the loan. Treat this as the close estimate, not the contract.
Should I add taxes and insurance myself?
The two percentage fields are annual figures. If you already know the yearly amounts, divide them by the home price to get the percentage to type.
Is a bigger down payment always better?
Not always. Keeping some cash for emergencies is usually worth more than the interest saved, especially in the first years of ownership.

What Nobody Puts in the Mortgage Advert

The advertised number is an entry ticket. The real monthly cost of owning a home is a stack of smaller numbers that arrive at different times.

The escrow account

Most lenders collect property tax and insurance monthly and hold the money until the bill arrives. That is why the payment changes once a year: the estimate was slightly wrong and the account is corrected.

Interest, reversed

In year one, most of every payment is interest. By year twenty, most of it is principal. This is why paying extra early is worth much more than the same money paid late.

Furniture is a loan too

Many buyers spend their remaining cash on furniture in month one and then meet a boiler repair in month three with a credit card at 20%. Borrow less than the bank says you can.

Run the numbers twice

Once with both incomes, once with the lower one alone. Houses are bought in good years and paid for in whatever comes. When you compare offers, use the same tool for both so the input differences are the only difference — and if you are still renting, the loan calculator covers personal and car loans while BMI and calories rarely matter here, but the discount calculator is handy on a furniture sale.

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Quick facts

  1. A mortgage payment has four parts; only principal and interest come from the loan formula, which is why a quoted payment and a real payment differ.
  2. One percentage point on a 30-year loan of 300,000 adds about 71,000 in interest over the term, because 6% and 7% give monthly payments of about 1,799 and 1,996.
  3. The SI defines the kilo as exactly 1000 and the centi as exactly one hundredth, which is why conversions are exact, not approximate.BIPM
  4. Since 2019 the kilogram is defined by a fixed value of the Planck constant, not by a metal cylinder in Paris.BIPM

Questions people ask

What is included in a monthly mortgage payment?
Lenders often call the total PITI: principal, interest, property tax and homeowners insurance. Mortgage insurance and HOA dues may be added. Only principal and interest come from the loan formula, so the other parts vary by location and can change from year to year.
How much of a mortgage payment is interest at the start?
Most of it. On a 30-year loan at 6%, the first payment on 300,000 sends about 1,500 to interest and only about 300 to principal. The share shifts gradually toward principal, which is why extra payments early in the term save the most.
Should I pay off a mortgage early?
It depends on the rate you pay, the rate you could earn elsewhere and how secure your finances are. Compare the interest saved by an extra payment with the return you expect from the same money. The calculator shows the interest saved for each extra amount.

What this page is about

  • SI units

    The International System of Units maintained by the BIPM, with the metre, kilogram, second and their prefixes defined exactly.

Official sources cited on this page

  1. The International System of Units (SI Brochure)BIPM

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