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Calculate your monthly mortgage payment instantly. Enter your loan amount, interest rate, and loan term to see a detailed breakdown of principal, interest, taxes, and insurance.
Your monthly mortgage payment is calculated by combining the principal and interest (based on loan amount, interest rate, and term), plus property taxes, homeowners insurance, and any applicable mortgage insurance or HOA fees.
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The calculator uses the standard amortization formula for principal and interest, then layers in property taxes, homeowners insurance, HOA dues, and program-specific mortgage insurance when applicable. FHA, VA, USDA, and conventional loans are treated differently because their upfront and monthly insurance costs are not the same.
Yes. You can use the built-in state estimates or switch to manual tax and insurance inputs. That makes the payment estimate much closer to a real Loan Estimate when you already know your expected escrow costs.
Different mortgage programs have different insurance and fee rules. Conventional loans may use PMI based on credit score and down payment. FHA loans include upfront and annual MIP. VA loans may include a funding fee. USDA loans include an upfront guarantee fee and annual fee.
An extra principal payment shortens your payoff timeline and reduces total interest. The calculator updates your amortization schedule, payoff timing, and lifetime interest to reflect the extra amount you choose.
Conventional PMI can usually end once the loan reaches the required equity threshold. FHA, USDA, and VA use different rules. The calculator estimates the monthly cost and duration based on the selected program so you can compare options more realistically.
Updated 3/29/2026
Calculators Mortgage is updated daily with practical mortgage guidance for this page.