Mortgage Payment Calculator
See your true monthly payment — principal, interest, property tax, insurance, and PMI — not just the part most calculators show. Defaults to the live 30-year mortgage rate.
At the current 30-year average of 6.7% (Q2 2026), a $400,000 home with 20% down costs about $2,582/mo all-in — only $2,065 of that is principal and interest.
6.7%
current US 30-year fixed mortgage average — Freddie Mac via FRED (Q2 2026)
$2,582
true monthly payment on a $400,000 home, 20% down, at 6.7% over 30 years (Q2 2026)
80%
of that payment is principal & interest — the rest is tax, insurance and dues
Your real monthly payment, not the sticker number
Principal and interest is just the start — taxes, insurance, and PMI decide what you actually pay.
P&I is only part of the story
The principal-and-interest figure most calculators stop at is just one slice. On a $400,000 home with 20% down it's about $2,065/mo, but property tax and insurance push the real payment to roughly $2,582/mo. Budget for PITI, not just P&I.
The 20% down PMI cliff
Put down less than 20% and you pay PMI — on a 10%-down version of this loan that's about $150/mo for insurance that protects the lender, not you. Cross 20% equity and it falls away. The payment-by-down-payment chart shows exactly where the cliff is.
Escrow: taxes and insurance
Lenders usually collect property tax and homeowners insurance monthly and hold them in escrow, then pay your county and insurer for you. That's why your payment is higher than a raw loan calculation — and why a low rate alone doesn't tell you what a home really costs per month.
How the Mortgage Payment Calculator Works
Formula
Loan Amount = Home Price − Down Payment
Monthly P&I = L × r ÷ (1 − (1 + r)^−n) (r = rate/12, n = years × 12)
Monthly Tax = Home Price × Tax Rate ÷ 12
Monthly Insurance = Annual Insurance ÷ 12
Monthly PMI = Loan × PMI Rate ÷ 12 (only if down payment < 20%)
Total Payment (PITI) = P&I + Tax + Insurance + PMI + HOAEnter the home price
The purchase price you're financing.
Set your down payment
As a percent — under 20% triggers PMI; the chart shows the cliff.
Set the rate and term
Rate defaults to the live 30-year fixed average (6.7%, Q2 2026); override with your quote.
Adjust tax, insurance & HOA
Defaults use US averages (≈1.1% tax, $1,800/yr insurance).
See your full PITI payment
Total monthly cost, a component breakdown, and how it moves with your down payment.
The most common mistake in home shopping is budgeting off the principal-and-interest figure alone. Property tax and insurance — collected through escrow — and PMI for low down payments can add hundreds of dollars a month, turning an affordable-looking P&I into a stretch.
The payment-by-down-payment view makes the 20% threshold concrete: below it you pay PMI; at or above it you don't. Combined with the live rate, it shows the real trade-off between a larger down payment and a lower monthly cost.
Frequently Asked Questions
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