HomeMathKit mortgage calculator your next home, by the numbers.
Model payments and compare mortgage choices.
Your estimated monthly payment
Principal, interest, taxes, insurance & HOA.
- Principal & interest
- $2,093.44
- Property taxes
- $389.58
- Home insurance
- $125.00
- HOA dues
- $0.00
- Mortgage insurance
- $0.00
Where your closing cash goes
- Down payment
- $85,000.00
- Closing fees
- $6,500.00
- Discount points (0%)
- $0.00
- Lender credits used
- −$0.00
- Prepaids and escrow deposit
- $2,500.00
- Total cash required
- $94,000.00
- Deposit already paid
- −$0.00
- Estimated cash still due
- $94,000.00
Escrow is money set aside for later bills, not an additional fee. The loan estimate may include other items.
Is paying points worth it?
Computes the cost of discount points against the monthly savings they buy, assuming each point lowers your rate by a set amount.
Add a second mortgage or HELOC
Blends this mortgage's payment with a second interest-amortizing loan to estimate your true combined monthly cost. HELOC draw-period interest-only payments are not modeled.
Estimate, not a loan offer. Taxes and insurance are held constant. Maintenance, utilities and special assessments are not included.
A rate 0.5 percentage points lower would reduce principal & interest by $109/month on this loan. Compare actual lender quotes and fees.
From mortgage to milestone.
Build the payment before you compare it
Follow the assumptions into the result so a single headline number never stands alone.
- 01Price the paymentEnter price, down payment, rate, term, and closing assumptions.
- 02Open the breakdownSeparate principal, interest, taxes, insurance, HOA, PMI, and cash due.
- 03Compare scenariosUse schedule, payoff, or comparison views with the same assumptions.
How the calculation works
Loan amount is the home price minus your down payment. The principal-and-interest payment is solved from that loan, the note rate and the term using the standard fixed-rate amortizing-loan formula.
Estimated property tax and homeowners insurance are added from your entered rate and annual premium. Borrower-paid PMI is added only when the down payment is under 20% and the policy is set to include it.
Worked example
Worked example with the default inputs. $425,000 home price, $85,000 down payment (20%), 6.25% rate, 30-year term, 1.1% property-tax rate, $1,500/year insurance, $6,500 closing costs, $2,500 prepaids.
- Loan amount = $425,000 − $85,000 = $340,000.
- Principal & interest on $340,000 at 6.25% over 360 months ≈ $2,093.44/month.
- Estimated taxes ≈ $389.58/month, insurance = $125.00/month, PMI = $0 because the down payment is exactly 20%.
Total modeled monthly payment ≈ $2,608.02. Estimated cash due at closing ≈ $94,000.
Assumptions
- Fixed-rate, fully amortizing conventional loan; no ARM resets, balloons or interest-only periods.
- Tax and insurance are estimates you enter, not a live escrow quote from a taxing authority or insurer.
- PMI is modeled as a flat annual rate on the loan balance, not a lender-specific PMI schedule.
When to use this
Use this page to size a new-purchase monthly payment and closing cash before you shop, or to sanity-check a Loan Estimate you already received.
Common mistakes
- Entering today’s advertised rate instead of the rate actually quoted on a Loan Estimate.
- Forgetting that extra principal payments are shown separately from the required monthly payment.
- Treating the modeled cash-due figure as a final Closing Disclosure amount rather than an estimate.
Big decisions. Clearer answers.
What is actually in a mortgage payment?
Separate principal and interest from taxes, insurance, HOA, PMI and upfront closing cash.
15-year or 30-year mortgage: compare the right numbers.
Compare required payments, interest costs and the flexibility of extra payments on 15-year and 30-year fixed mortgages.
PMI removal: a request is not the automatic date.
Understand the difference between requesting conventional PMI cancellation at 80% and automatic termination on the original schedule.
One payment. Several moving parts.
Start with your home price, down payment, note rate and term. Then replace the example tax, insurance and closing-cost assumptions with estimates for the property you are considering. The main number includes recurring housing costs, not just principal and interest. Extra principal is shown separately because it is voluntary. Your closing cash is separate, too: it is money needed upfront rather than another monthly bill.
A few things you
might be wondering.
No fine-print scavenger hunt required.
Read the full methodology
What is included in this monthly payment?
Principal and interest, estimated property taxes, homeowners insurance, HOA dues and any modeled borrower-paid PMI. Extra principal is shown separately. Maintenance, utilities, flood insurance unless added to your insurance input, and special assessments are not included.
Is the displayed interest rate current?
No. It is an editable example, not a market quote. Enter the note rate from a lender offer. Points are entered separately, and this tool does not calculate a regulatory APR.
Can I compare different loan offers?
Yes. Change the rate, term, down payment or fees and save a named plan. Compare up to three saved plans with your current inputs on the same time horizon. Saved plans stay in this browser.
Does this calculate FHA, VA or adjustable-rate loans?
No. The model covers conventional fixed-rate, fully amortizing loans. Government-loan fees, FHA mortgage insurance, ARM resets, balloons and interest-only periods need different models.
Payment examples by state, price and loan program.
Mortgage calculators by state
Property tax and insurance assumptions for each state, sourced and cited.
Mortgage payment on a $X home
Worked 30-year and 15-year payment examples from $200k to $1 million.
Loan program payment examples
Compare FHA, VA and jumbo assumptions with live OBMMI program rates.
Source references: CFPB: Loan Estimate explainer CFPB: Interest rate versus APR
Sources checked 2026-09-11. Educational software; no professional review claimed.
A home for your plans.
Explore the numbers before you make the next move.