Estimate your total monthly mortgage payment, including principal, interest, property tax, insurance, and PMI.
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Your Estimated Monthly Payment
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Principal and Interest—
Property Tax—
Home Insurance—
PMI (if LTV over 80%)—
Loan Amount—
Formula
Monthly P&I = Loan × r(1+r)^n / ((1+r)^n - 1), where r = annual rate / 12, n = term in months.
Example
A $400,000 home with $80,000 down (20%) at 6.5% for 30 years has a $320,000 loan with principal and interest near $2,023/month, plus taxes and insurance on top.
Not tax or financial advice. This calculator provides general estimates based on published 2026 figures. Always confirm important figures with the IRS, SSA, your state tax agency, a licensed lender, or a qualified professional.
Frequently Asked Questions
How much down payment do I need?
Conventional loans often allow as little as 3 to 5 percent down, though 20 percent avoids PMI. FHA loans allow 3.5 percent down, and VA loans can go to zero percent for eligible veterans.
When does PMI go away?
Private mortgage insurance is generally required when your down payment is under 20 percent. You can typically request removal at 20 percent equity, and it is automatically removed at 22 percent equity.