Mortgage Payment Calculator
Estimate your monthly mortgage payment in seconds. Includes principal, interest, US property tax, homeowners insurance, and HOA fees — built for the way American lenders quote loans.
20.0% of price
US average ~1.1%
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How to use this calculator
- Enter the home price you're considering and your planned down payment.
- Choose a 15 or 30 year fixed term and the interest rate your lender quoted.
- Add property tax %, annual home insurance, and HOA fees if any.
- Hit Calculate to see your full PITI breakdown and total interest over the life of the loan.
What your results mean
Your total monthly payment is PITI plus HOA: Principal (paid down on the loan), Interest (the lender's fee), Taxes (property tax billed by your county), and Insurance (homeowners coverage). Total interest paid shows how much the loan actually costs you over 30 years — usually a sobering number.
7 ways to lower your mortgage payment
- Put down 20% to avoid PMI and save 0.5-1.5% per year on the loan balance.
- Buy points: pay 1% of the loan upfront to drop your rate ~0.25%.
- Shop at least 3 lenders — 0.25% rate difference saves $50-100/month on a $400k loan.
- A 15 year term roughly halves your total interest but raises monthly P&I by ~40%.
- Improve your credit score above 760 before applying — best tier rates open up.
- Negotiate the property tax assessment if your home is over-valued.
- Bundle home + auto insurance for a 10-20% discount on the homeowners portion.