Mortgage Calculator
Mortgage calculator: monthly payment with taxes, insurance, PMI and HOA, plus extra payments and a payoff date. Free, no sign-up, and it runs in your browser.
Dedicated page: /en/mortgage-calculator
Default checked 10 Nov 2026: 7.18% for a 30-year fixed mortgage (Freddie Mac survey, week of 5 Nov 2026). Your lender rate will differ by credit score and down payment. Check the current value here.
Default checked 10 Nov 2026: 6.57% for a 15-year fixed mortgage (Freddie Mac survey, week of 5 Nov 2026). Used for the 15-year row in the comparison table below. Check the current value here.
About 1% of the home price a year is a rough US average, but rates vary a lot by state and county.
Private mortgage insurance is usually 0.3% to 1.5% of the loan a year. It drops off when your balance reaches 80% of the home value.
Slide to see how much interest an extra payment saves.
The payoff date counts from here.
Utilities, maintenance, anything else monthly. About 1% of the home price a year on maintenance is a common rule of thumb.
A lump sum paid in the first month, for example a bonus or a tax refund.
Paid once a year, for example from a yearly bonus.
Biweekly means 26 half-payments a year, which is 13 monthly payments instead of 12.
How much extra a month would clear the loan in this many years?
Estimate only, not financial advice. Your real payment depends on the rate your lender offers, your credit score, taxes, insurance, and PMI. Get a Loan Estimate from at least three lenders before you commit.
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Quick answer
A mortgage calculator works out your true monthly payment: principal and interest plus taxes, insurance, PMI and HOA. Enter the home price, down payment and rate, and it shows the monthly total, a full amortisation table, extra payment savings, and how 15, 20 and 30 year terms compare.
About this Mortgage Calculator
Mortgage calculator: monthly payment with taxes, insurance, PMI and HOA, plus extra payments and a payoff date. It is one of the Money and Finance on ToolUstad, and like every tool here it runs entirely in your browser: nothing you type, paste or open is uploaded to a server, and there is no sign-up or usage limit.
What is a mortgage calculator?
A mortgage calculator turns a home price into your monthly payment. That payment has four or five parts. Principal and interest go to the lender. Property taxes and insurance usually go into an escrow account the lender manages. PMI applies when you put down less than 20%. HOA dues go to the homeowners association. Lenders call the first four PITI. This calculator adds them all into one total.
On a $400,000 home, taxes of $5,000 a year add $416.67 a month, insurance of $1,800 a year adds $150, and HOA dues add $50. The principal and interest on a $320,000 loan at 7.18% over 30 years are $2,167.79, but the real monthly payment is $2,784.46.
How mortgage maths works
The principal and interest part follows the standard amortisation formula. Early payments are mostly interest, because the balance is highest. On a 30-year loan, the first payment of $2,167.79 is about $1,914.67 of interest and only $253.12 of principal. By year 15 the split is roughly even. The table on this page shows that shift year by year.
15, 20 and 30 years, and extra payments
On a $320,000 loan at 7.18%, 30 years costs $2,167.79 a month and $460,405 in interest. At 20 years the payment is $2,515.65 and the interest is $283,756. At 15 years, at 6.57%, the payment is $2,799.87 and the interest is only $183,977. The 10-year option is $3,745.23 a month and $129,427 of interest. Pick the term whose payment you can make in a bad month, not a good one.
Extra money goes straight to principal. Paying an extra $200 a month clears the 30-year loan in 278 months instead of 360 and saves $124,089 in interest. Biweekly payments do the same job: 26 half-payments a year equal 13 monthly payments. PMI is usually 0.3% to 1.5% of the loan a year, and it drops off at 80% of the home value.
Best practices
- Compare Loan Estimates, not advertised rates: get one from at least three lenders on the same day.
- Keep an emergency fund after closing: closing costs run 2% to 5% of the price.
Common mistakes to avoid
- Budgeting for principal and interest only, and forgetting taxes, insurance, PMI and HOA.
- Choosing the longest term for the lowest payment, then paying $460,405 of interest on a $320,000 loan.
Who is the mortgage calculator for?
First-time buyers working out what they can afford, homeowners comparing a refinance, and buyers choosing between a 15-year and a 30-year term.
Current value, checked 10 Nov 2026: the default 30-year fixed rate is 7.18% and the 15-year rate is 6.57%, from the Freddie Mac Primary Mortgage Market Survey for the week ending 5 Nov 2026. The rate boxes are optional overrides. Check the current Freddie Mac rate here.
This calculator is an estimate only, not financial advice. Your actual rate, taxes, insurance and PMI depend on your credit, the property and the lender.
Learn: how to use the Mortgage Calculator
- Enter the home price and down payment, or tap a down payment preset like 20%.
- Check the interest rate: the default is the Freddie Mac average, checked 10 Nov 2026. Enter your own rate if you have a quote.
- Add yearly taxes and insurance, monthly HOA, and the PMI rate if you put down less than 20%.
- Use the extra payment slider, a one-time lump sum, or biweekly payments to see what they save, then copy the shareable link.
Features
- Principal and interest plus taxes, insurance, PMI and HOA in one monthly total
- Full amortisation table by year, with a payment breakdown chart
- Extra payment slider, one-time and yearly extra payments, and biweekly mode
- Down payment presets (0%, 10%, 20%, 25%) and the PMI cut-off date
- 15, 20 and 30 year side-by-side, plus a 10 year option
- Printable and shareable link with your inputs in the URL
Worked example
Buy a $400,000 home with 20% down ($80,000), so the loan is $320,000. At 7.18% over 30 years, principal and interest are $2,167.79 a month. Add taxes of $5,000 a year ($416.67 a month), insurance of $1,800 a year ($150 a month) and HOA of $50 a month, and the total payment is $2,784.46 a month. The same loan over 15 years at 6.57% costs $2,799.87 a month but only $183,977 in interest, against $460,405 over 30 years. Paying an extra $200 a month clears the 30-year loan in 278 months and saves $124,089 in interest.
Frequently asked questions
What is included in a monthly mortgage payment?
Four or five parts: principal and interest, property taxes, homeowners insurance, PMI if you put down less than 20%, and HOA dues. Lenders call the first four PITI. This calculator adds all of them into one total.
When does PMI drop off?
PMI usually drops off when your loan balance reaches 80% of the home value, or 78% automatically. On a $400,000 home with 10% down at 7.18%, that takes roughly 7 to 8 years of normal payments, faster with extra payments. This calculator shows the month.
Is a 15-year mortgage always better than a 30-year?
It costs far less interest but the monthly payment is much higher. On a $320,000 loan at 7.18%, the 15-year payment is about $2,799.87 against $2,167.79 for 30 years. Pick the 15-year only if the higher payment still leaves room for emergencies.
Do biweekly payments really save money?
Yes, because 26 half-payments a year equal 13 monthly payments instead of 12. That one extra payment a year goes straight to principal. On a 30-year loan it usually cuts 4 to 5 years off the payoff and saves tens of thousands in interest.
Why is my lender quote different from this calculator?
Your rate depends on your credit score, down payment, loan type and the day you lock. Taxes and insurance are estimates until the lender and insurer confirm them. Use this tool to compare scenarios, then get a Loan Estimate from at least three lenders.
What is escrow?
An account your lender holds to pay property taxes and homeowners insurance for you. Part of each monthly payment goes into escrow, and the lender pays the bills when they are due. It is required on most loans with less than 20% down.
Can I pay my mortgage off early?
Yes, if there is no prepayment penalty. Extra payments go to principal and cut the total interest. A $200 extra payment a month on a $320,000 loan at 7.18% saves $124,089 and clears the loan 82 months early.
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