How it works
Subtract the down payment from the home price to obtain the loan principal. The fixed annual interest rate is divided by 12. Property tax and homeowners insurance are entered annually; PMI and HOA dues are entered monthly. The result separates the loan payment from the broader housing budget.
Worked example
Show example inputs and result
Home price: 400,000 · Down payment: 80,000 · Annual interest rate: 6.5 · Loan term: 30 · Annual property tax: 4,800 · Annual homeowners insurance: 1,500 · Monthly mortgage insurance: 0 · Monthly HOA dues: 0.
- Estimated monthly housing cost
- $2,547.62
- Principal & interest
- $2,022.62
- Property tax
- $400.00
- Homeowners insurance
- $125.00
- Mortgage insurance (PMI)
- $0.00
- HOA dues
- $0.00
- Loan principal
- $320,000.00
- Total loan interest
- $408,142.36
Questions and answers
Is this payment a lender quote?
No. Interest, taxes and insurance are your assumptions. This model excludes closing costs, adjustable rates, extra payments and automatic PMI cancellation. HOA dues are generally paid separately from the mortgage.
Why are some results rounded?
Results display up to 8 decimal places. Calculations use the unrounded values; very small values use scientific notation. JavaScript floating-point arithmetic can introduce tiny rounding differences.
Are my inputs sent to a server?
The calculator processes inputs in your browser. Its code does not send your values to a server.
Method sources: consumerfinance.gov
Method reviewed: October 8, 2026 · Methods & accuracy