MortgageCalc

Mortgage Calculator with Taxes, Insurance & PMI

Calculate your complete monthly mortgage payment including principal, interest, taxes, insurance, and PMI. Get the true cost of homeownership.

Loan Details
Enter your mortgage information to get accurate calculations

$300,000

20.0% of home price ($60,000)

Additional Costs
Monthly expenses beyond mortgage

$3,000

$1,200

Required if down payment < 20% ($0)

$0

Extra Payments
Pay off your mortgage faster

Monthly Payment

$1,517

Principal & Interest

Total Monthly

$1,867

Including all costs

Total Interest

$306,107

Over life of loan

Total Cost

$546,107

Principal + Interest

Payment Breakdown

Total Cost

$546,107
Over 30 years

Principal

$240,000
43.9% of total

Interest

$306,107
56.1% of total

Payment Breakdown

Principal43.9%
$240,000
Interest56.1%
$306,107
Interest vs Principal Ratio
You'll pay 56% in interest
That's $66,107 more than the original loan amount
Amortization Schedule
See how your loan balance decreases over time
YearPaymentPrincipalInterestBalance
1$1,517$217$1,300$239,783
1$1,517$230$1,287$237,317
2$1,517$246$1,271$234,455
3$1,517$262$1,255$231,401
4$1,517$280$1,237$228,143
5$1,517$298$1,219$224,666
6$1,517$318$1,199$220,957
7$1,517$340$1,177$216,999
8$1,517$362$1,155$212,776
9$1,517$387$1,130$208,270
10$1,517$413$1,104$203,463
11$1,517$440$1,077$198,333
12$1,517$470$1,047$192,860
13$1,517$501$1,016$187,021
14$1,517$535$982$180,790
15$1,517$571$946$174,142
16$1,517$609$908$167,049
17$1,517$650$867$159,481
18$1,517$693$824$151,405
19$1,517$740$777$142,790
20$1,517$789$728$133,597
21$1,517$842$675$123,788
22$1,517$898$619$113,323
23$1,517$958$559$102,156
24$1,517$1,023$494$90,242
25$1,517$1,091$426$77,530
26$1,517$1,164$353$63,967
27$1,517$1,242$275$49,495
28$1,517$1,325$192$34,054
29$1,517$1,414$103$17,579
30$1,517$1,509$8$0

Complete Mortgage Payment Breakdown

Your total monthly mortgage payment includes more than just principal and interest. Our calculator accounts for all the costs associated with homeownership to give you an accurate picture of your monthly housing expenses.

What's Included in Your Payment

Principal & Interest

The core loan payment that pays down your balance and covers interest costs.

Property Taxes

Local government taxes based on your home's assessed value, typically escrowed monthly.

Homeowners Insurance

Insurance coverage for your property, usually required by lenders and escrowed monthly.

Private Mortgage Insurance (PMI)

Required when your down payment is less than 20% of the home's value.

HOA Fees

Monthly fees for homeowners association if your property is in an HOA community.

Flood Insurance

Required in flood-prone areas, typically not included in standard homeowners insurance.

Understanding PMI (Private Mortgage Insurance)

PMI is required when your down payment is less than 20% of the home's purchase price. It protects the lender in case of default and typically costs 0.5% to 1% of your loan amount annually.

PMI can usually be removed once you reach 20% equity in your home.

How to Use Our Complete Calculator

  1. Enter your loan amount, interest rate, and term
  2. Add your annual property tax amount
  3. Include your annual homeowners insurance cost
  4. Add PMI if your down payment is less than 20%
  5. Include HOA fees if applicable
  6. Add any other monthly housing costs
  7. Get your complete monthly payment breakdown

Why This Calculator Matters

  • Shows your true monthly housing cost
  • Helps with accurate budgeting and planning
  • Prevents surprises with hidden costs
  • Allows comparison of different loan scenarios
  • Helps determine affordability before house hunting
  • Provides complete cost transparency

Example: Complete Payment Breakdown

For a $300,000 home with 10% down ($30,000), your monthly payment might include: $1,799 principal & interest + $500 property taxes + $100 insurance + $150 PMI + $50 HOA = $2,599 total monthly payment. Our calculator helps you understand exactly where your money goes each month.