Use this mortgage calculator to estimate both the principal-and-interest payment on a fixed-rate home loan and a broader monthly housing payment that includes costs you enter for property taxes, homeowners insurance, mortgage insurance, and HOA fees.
Seeing those numbers separately can help you avoid mistaking the mortgage loan payment for the full monthly cost of owning the home.
Principal and Interest Are Only Part of the Monthly Cost
Your scheduled mortgage payment may include principal and interest, but your actual monthly housing cost can also include property taxes, homeowners insurance, mortgage insurance, homeowners association fees, and other recurring charges.
This calculator lets you enter those additional costs separately so you can compare the core loan payment with a broader estimated monthly housing payment.
Mortgage Payment Calculator
Enter the home price, down payment, fixed annual interest rate, term, and any recurring housing costs you want included.
| Month | Payment | Principal | Interest | Remaining Loan Balance |
|---|
For longer mortgages, the table shows selected checkpoints rather than every monthly payment. Taxes, insurance, mortgage insurance, and HOA amounts are not part of the amortization schedule.
How to Read Your Result
Loan amount is the home price minus the down payment entered.
Principal + interest is the estimated scheduled payment on the mortgage loan itself.
Estimated monthly housing payment adds the property taxes, homeowners insurance, mortgage insurance, and HOA amounts you entered to the scheduled principal-and-interest payment.
It still does not represent every cost of homeownership.
What This Calculator Assumes
The mortgage is modeled as a fixed-rate loan with equal scheduled monthly principal-and-interest payments.
Interest is modeled monthly using the annual rate divided by 12. A 0% interest rate is supported.
Property taxes and homeowners insurance are converted from annual amounts to simple monthly estimates. Actual escrow payments can differ and may change over time.
Mortgage insurance and HOA fees are included only when you enter them. The calculator does not determine whether mortgage insurance is required or when it may end.
Costs Still Not Included
Buying and owning a home may also involve closing costs, lender fees, title charges, appraisal costs, maintenance, repairs, utilities, special assessments, moving expenses, renovations, and other costs that are not included here.
Property taxes, insurance premiums, association fees, and other housing expenses can also change after purchase.
What About Extra Principal Payments?
If you enter an extra monthly principal amount, the amortization schedule will estimate how the additional payment could shorten the loan and reduce interest.
Before making extra payments, check the loan agreement for prepayment terms and confirm how your servicer applies additional amounts.