Estimate monthly mortgage payments with taxes, insurance, and PMI
Enter the home price, down payment, interest rate, and loan term. Add estimated property tax, insurance, and PMI for a complete monthly payment picture.
Key Output — This is the primary number the calculator returns. It represents the answer to the question you asked, calculated using standard financial formulas.
Breakdown Details — These supporting numbers show you how the result was reached. They help you understand what's driving the outcome and where you might adjust your inputs.
What to Look For — Pay attention to how small changes in inputs affect the outputs. The relationship between your inputs and results is where the real insight lives — that's what helps you make better decisions.
Every calculation uses standard financial math — the same formulas banks, lenders, and investment platforms use. The inputs you provide determine the accuracy of the result.
Maya has been renting a one-bedroom apartment for $1,400 a month and is tired of rising rents. She has saved $35,000 and is looking at a $240,000 condo, putting 10% down. She needs to figure out her total monthly payment including taxes, insurance, and PMI.
"I thought my all-in payment would be around $1,600, so seeing $1,860 stung. But it's still less than what a nice two-bedroom rental costs here — and at least that money isn't disappearing into my landlord's pocket."
Takeaway: Your "mortgage payment" isn't just principal and interest — taxes, insurance, and PMI can easily add $400–$500 per month.
David and Priya are selling their current home and expect $110,000 in net proceeds after closing. They found a $430,000 four-bedroom house in a good school district. They want to put down 25% and are debating whether to pay points to lower the rate.
"I was skeptical about paying extra at closing, but running the numbers made it clear. We'll break even in under three years, and after that it's pure savings. Feels like buying a lower interest rate with cash instead of financing it."
Takeaway: Paying discount points makes sense when your breakeven period (cost ÷ monthly savings) is shorter than your expected time in the home.
Frank sold his large family house and netted $340,000. He's looking at a $280,000 two-bedroom townhouse and can pay cash, but his financial planner suggests he might keep the mortgage deduction. He wants to see the difference between paying all cash and putting 50% down with a 15-year loan.
"I thought I'd keep the mortgage for tax reasons, but the calculator showed me how much cash flow I'd free up. Paying cash means my pension covers my housing with room to spare — that's peace of mind I can't put a price on."
Takeaway: For retirees, eliminating a mortgage often beats investing the extra cash — especially when the investment return doesn't outpace the loan's effective cost after taxes and risk.
See how different inputs affect the result:
| Scenario | Key Input | Result A | Result B |
|---|---|---|---|
| Maya's Condo | Down payment: 10% vs 20% | $1,860 (incl. PMI) | $1,738 (no PMI) |
| David & Priya's Home | Loan term: 30-year vs 15-year | $2,627/month | $3,519/month |
| Frank's Townhouse | Down payment: 50% vs all cash | $1,774/month | $384/month |
The biggest lever isn't always the interest rate — down payment percentage, loan term, and PMI often swing the monthly payment by hundreds of dollars.
Disclaimer: All calculations and scenarios are hypothetical and for illustrative purposes only. They assume constant conditions — real-world results may vary. These calculators are educational tools, not financial advice. Consult a qualified professional before making financial decisions.