Monthly payment with taxes, insurance, HOA and PMI
Updated 2026-10-02
To work out a mortgage payment, enter the home price, down payment, interest rate and loan term below. The calculator finds principal and interest with the standard amortization formula, then adds property tax, homeowners insurance, HOA dues and PMI to give your full monthly payment, total interest and payoff date. see every payment in an amortization schedule · find how much house you can afford · check when PMI comes off.
Loan details
Your payment
Total monthly payment
—
Principal & interest
$2,022.62
Loan amount
$320,000
Total interest
$408,142
Paid off
—
Where each month's money goes
Balance and equity over time
Loan balancePrincipal paid
Estimates for planning, not a loan offer or financial advice. Every rate and cost here is a number you enter or an example you can change; confirm figures with your lender.
A fixed-rate mortgage is repaid with equal monthly payments of principal and interest. The payment comes from the standard amortization formula, where P is the amount borrowed, r is the annual rate divided by 12, and n is the number of monthly payments:
M = P × r ÷ (1 − (1 + r)−n)
On a $320,000 loan at an example 6.5% for 30 years, r is 0.065 ÷ 12 ≈ 0.005417 and n is 360, which gives a principal-and-interest payment of $2,022.62. Over the full term those payments add up to $728,142, of which $408,142 is interest.
Each month's interest is the remaining balance times r. In month one that is $1,733.33, so only $289.28 of the first payment reduces the balance. By year 20, principal overtakes interest in the yearly totals. The interest guide walks through the first months by hand.
The rest of the monthly payment
Property tax is set by your county or city and is usually a percentage of assessed value. Enter your local rate; the calculator converts it to a monthly amount.
Homeowners insurance varies by location, coverage and deductible. Use a quote if you have one.
HOA dues apply to many condos and planned communities and are paid on top of the mortgage.
PMI is private mortgage insurance, usually required on conventional loans with less than 20% down. It is charged here as a yearly percentage of the loan, only while the down payment is below 20%. Use the PMI removal calculator to see when it can be dropped. FHA loans charge MIP instead, with an upfront premium and different rules: use the FHA loan calculator with MIP.
Taxes and insurance are usually collected by the servicer into an escrow account, which is why a fixed-rate payment can still change from year to year. See what an escrow account is.
Using the results
If the total is higher than you want, the biggest levers are the price, the down payment and the rate. Check what your income supports with how much house can I afford, compare a 15-year term by switching the term field, and see how extra principal shortens the loan with the extra payment calculator. Share the link to reopen the same numbers later or send them to a partner; the address bar keeps every input.
Before you apply, check your debt-to-income ratio, since lenders size the payment against it. For loans that do not amortize from day one, the interest-only mortgage calculator shows the payment jump at the reset, the ARM calculator shows an adjustable-rate payment after each reset with its caps, and the balloon mortgage calculator shows the lump sum due at the balloon date. If you already own a home, the HELOC calculator shows how much equity you can borrow.
Getting ready to buy
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Prices and savings as of Oct 15, 2026, 5:05 AM UTC. Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon.com at the time of purchase will apply to the purchase of this product.
What is the monthly payment on a $300,000 mortgage?
At a 6.5% rate, principal and interest on a $300,000 loan are $1,896.20 a month over 30 years and $2,613.32 a month over 15 years. Property tax, insurance, HOA dues and PMI come on top; enter them above for your full payment.
What is included in a mortgage payment?
Principal and interest set by the loan terms, plus property tax and homeowners insurance (usually collected monthly into escrow), HOA dues if the home has them, and private mortgage insurance on many conventional loans with less than 20% down. Together these are often called PITI.
How is the monthly payment calculated?
Principal and interest use the amortization formula M = P × r / (1 − (1 + r)^−n), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of monthly payments. Taxes, insurance, HOA and PMI are then added as monthly amounts.
Why does most of my early payment go to interest?
Interest each month is charged on the remaining balance. The balance is largest at the start, so early payments are mostly interest; as the balance falls, more of the same fixed payment goes to principal.
Does this calculator use today's mortgage rates?
No. You enter the rate. The 6.5% default is only an example so the page shows a result. Use the rate from your loan estimate or lender quote.
When can I drop PMI?
On a conventional loan you can usually ask to cancel PMI once the balance is scheduled to reach 80% of the home's original value, and it generally ends automatically at 78%. The PMI removal calculator finds those months for your loan.
