Mortgage Payment Calculator
Estimate your monthly payment on a home purchase, including principal and interest, property taxes, homeowners insurance, HOA dues and private mortgage insurance (PMI).
$45,000 · PMI applies under 20% down
Estimated monthly payment
$3,254/mo
- Principal & interest$2,560
- Property taxes$375
- Homeowners insurance$150
- PMI$169
- Loan amount
- $405,000
- Down payment
- $45,000 (10%)
Loan and costs
Example rate, not a quote
Percent of the home price
Percent of the loan, under 20% down
Disclaimer: These calculators are for educational and comparison purposes only. The interest rates and other values shown are hypothetical examples, not current rates, an advertisement of available terms, an offer of credit, a pre-qualification or pre-approval, or a commitment to lend. Payments shown are estimates of principal and interest plus any taxes, insurance, HOA dues and mortgage insurance you enter; they don’t include every cost of a loan, and the annual percentage rate (APR), which reflects the cost of credit including certain fees, may be higher than the interest rate. Your actual rate, APR, payment and terms depend on your credit, income, assets, loan amount, down payment, property type, occupancy, location and other factors, and are subject to underwriting approval. Rates, fees, taxes, insurance and other costs change without notice. VA funding fees are estimated from the U.S. Department of Veterans Affairs’ published schedule and depend on your eligibility; Federal First Lending LLC is not affiliated with or acting on behalf of the VA or any government agency. Rent vs. buy, DSCR and fix & flip results are not a guarantee of rent, property value, profit or return, and are not tax, legal or investment advice. DSCR and fix & flip loans are business-purpose loans for investment properties. Federal First Lending LLC, NMLS #2381991. Equal Housing Opportunity.
Common questions
What’s included in a monthly mortgage payment?
Most payments include principal and interest on the loan, plus property taxes and homeowners insurance, which are often paid through an escrow account. HOA dues and mortgage insurance are added when they apply.
When do I pay PMI?
Conventional loans usually require private mortgage insurance when the down payment is less than 20% of the price. It can typically be removed once you reach 20% equity, subject to the lender’s requirements.
How much does the interest rate matter?
Even a small change in rate can move your payment noticeably over a 30-year loan. Try a few rates in the calculator to see the difference, then get a quote for the rate you actually qualify for.