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Mortgage payment calculator

Estimate a full monthly mortgage payment: principal and interest, property taxes, homeowners insurance, HOA dues and mortgage insurance when the down payment is under 20%.

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Example: Freddie Mac PMMS 30-year average 7.4% (week of 2026-10-15). Your rate will differ.
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% of loan

Estimated monthly payment

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  • Principal & interest —
  • Property tax —
  • Insurance —
  • HOA —
  • PMI —
  • Loan amount —
  • Total interest over the term —

Estimates for illustration only. Mortgage Funnel Suite is a website and marketing provider, not a lender, broker or financial advisor; this is not an offer of credit or a rate quote. Talk to a licensed loan officer for real numbers.

How the math works

What this calculator does

  1. 1Loan amount = price × (1 − down payment %).
  2. 2Principal and interest uses the standard amortization formula for a fixed-rate loan.
  3. 3Taxes and insurance are annual amounts divided by 12.
  4. 4PMI is estimated as an annual percentage of the loan, applied only when the down payment is below 20%.
  5. 5Total interest = monthly P&I × number of payments − loan amount.
M = P × r(1+r)^n / ((1+r)^n − 1)
P = loan amount, r = annual rate / 12, n = years × 12

Ask the front desk

Calculator questions, answered

  1. YouHow is a monthly mortgage payment calculated?
    Funnel Suite team

    Principal and interest come from the amortization formula using the loan amount, rate and term. Add one-twelfth of annual property tax and homeowners insurance, any HOA dues, and mortgage insurance if applicable, and you have the full monthly payment.

  2. YouWhat is PITI?
    Funnel Suite team

    Principal, interest, taxes and insurance: the four main parts of a typical monthly mortgage payment. HOA dues and mortgage insurance are often added on top.

  3. YouWhen does PMI apply?
    Funnel Suite team

    On conventional loans, private mortgage insurance usually applies when the down payment is under 20%. FHA loans have their own mortgage insurance premiums. This calculator uses a simple PMI estimate; a loan officer can give a real figure.

  4. YouWhy is the default rate what it is?
    Funnel Suite team

    It is the most recent Freddie Mac weekly survey average for a 30-year fixed loan, shown only as an example. Your rate depends on credit, down payment, loan type and the day you lock.

  5. YouDoes a 15-year loan save money?
    Funnel Suite team

    Usually yes in total interest, at the cost of a higher monthly payment. Change the term to 15 to compare.

  6. YouAre property taxes the same everywhere?
    Funnel Suite team

    No. They vary widely by state, county and city. Use the tax amount from a listing or your county assessor.

  7. YouCan borrowers save their estimate?
    Funnel Suite team

    On client sites, yes: a consented form sends the estimate to the borrower and creates a lead for the loan officer with the numbers attached.

  8. YouIs this an offer of credit?
    Funnel Suite team

    No. It is an estimate for education. We are a website provider, not a lender.

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