Mortgage Calculator With Taxes, PMI & HOA

How to use this calculator

Enter the purchase price, cash down payment, annual interest rate, loan term, annual property tax, annual homeowners insurance, monthly private mortgage insurance, and monthly HOA dues. Enter zero for any cost that does not apply. Compare the result with the Projected Payments table in a lender’s Loan Estimate.

When this calculator is useful

• Estimating a PITI-style housing payment before making an offer
• Comparing down payments and mortgage-rate scenarios
• Finding costs omitted by principal-and-interest-only calculators
• Checking a calculator estimate against a written Loan Estimate

Important limitations

This is not a loan quote or an affordability approval. It assumes a fixed-rate, fully amortizing loan with monthly payments. It does not calculate closing costs, discount points, mortgage-insurance cancellation, prepaid items, maintenance, utilities, special assessments, adjustable rates, or taxes and insurance that change later.

For best results, run at least three cases: a conservative case, a middle case, and a stretch case. If a small change in inputs creates a big change in the answer, that is a sign the decision may be sensitive to rates, fees, timing, or market performance.

What the monthly mortgage total includes

A mortgage payment estimate is only useful when its parts are visible. This calculator shows the scheduled principal-and-interest payment separately, then adds the property costs entered above. The full monthly estimate is:

principal and interest + property tax ÷ 12 + homeowners insurance ÷ 12 + monthly PMI + monthly HOA dues

The Consumer Financial Protection Bureau calls the first four parts PITI: principal, interest, taxes, and insurance. PMI and association dues may sit on separate lines, but they still affect the amount a buyer must budget each month.

A worked $400,000 home example

Suppose a home costs $400,000 and the buyer puts down $80,000. The starting loan is $320,000. At a hypothetical 6.25% fixed rate for 30 years, the scheduled principal-and-interest payment is about $1,970.30 a month. This is an example, not a current rate quote.

Add $4,800 a year for property taxes, $1,800 a year for homeowners insurance, $110 a month for PMI, and $65 for HOA dues. The working monthly total becomes about $2,695.30. A calculator showing only principal and interest would miss $725 a month, or $8,700 over a year.

How the principal-and-interest formula works

For a standard fixed-rate loan, the monthly payment uses the starting principal, the monthly interest rate, and the number of scheduled payments. The calculator converts the annual percentage rate input to a monthly decimal rate and multiplies the term in years by 12.

The payment stays level in this simplified model, but the split changes. Early payments contain more interest because the outstanding balance is larger. In the example above, the estimated balance after 60 scheduled payments is still about $298,679. Paying $1,970.30 for five years does not reduce the balance by five years of full payments because part of every payment covers interest.

The total-interest result assumes every scheduled payment is made for the entire term and there are no extra principal payments, recasts, refinances, late charges, or servicing adjustments. Use the mortgage extra payment calculator to test additional principal.

Use property-specific tax and insurance numbers

National averages are poor substitutes for a property record and an insurance quote. Tax bills depend on the jurisdiction, assessed value, exemptions, and reassessment rules. A seller’s exemption may not transfer to the buyer. Insurance depends on the property, location, construction, coverage limits, deductible, and insurer.

Convert annual tax and insurance estimates to monthly amounts for comparison, even when the actual bills are due on another schedule. If the mortgage uses escrow, the servicer collects money toward those bills. Escrow changes when the projected bills or account balance change; it does not lock the underlying costs.

PMI and HOA dues need their own lines

Private mortgage insurance commonly protects the lender rather than the borrower. Its price and cancellation rules depend on the loan. Do not assume that a home-value estimate will remove PMI automatically. Ask the lender or servicer which balance, value, payment-history, and appraisal rules apply.

HOA dues may never appear on the mortgage statement. Review the association budget, current dues, reserve information, and pending special assessments. A low monthly due can coexist with a large assessment. This calculator includes the recurring due entered above, not future assessments.

Check the result against lender disclosures

Use the estimate to shop and test scenarios. For a specific offer, compare it with the Projected Payments table and the estimated taxes, insurance, and assessments in the Loan Estimate. Confirm whether mortgage insurance changes, whether the rate can adjust, and whether taxes or insurance were based on realistic property information.

Closing costs, points, lender credits, prepaid interest, and the initial escrow deposit usually belong in the cash-to-close analysis rather than the recurring monthly total. The refinance break-even calculator can test how upfront refinancing costs compare with monthly savings.

Sources and calculation notes

• Consumer Financial Protection Bureau: What is PITI? for the basic payment components.
• Consumer Financial Protection Bureau: What is an escrow account? for tax and insurance collections and later adjustments.
• Consumer Financial Protection Bureau: What is private mortgage insurance? for PMI purpose and payment structures.
• Consumer Financial Protection Bureau: When can I remove PMI? for federal cancellation and termination basics on covered loans.

Calculation reviewed September 9, 2026. All rates and costs entered by the reader are scenarios. Daily Money Radar does not supply a live mortgage rate or approve loans.

Educational only. This calculator provides general information, not personalized financial, tax, legal, insurance, real-estate, or lending advice.

Frequently asked questions

What costs are included in this mortgage calculator?

The total includes monthly principal and interest, one-twelfth of annual property tax, one-twelfth of annual homeowners insurance, monthly PMI, and monthly HOA dues.

What is PITI?

PITI means principal, interest, taxes, and insurance. PMI and HOA dues can increase the housing payment beyond those four parts.

Does a fixed mortgage rate mean my total payment cannot change?

No. Principal and interest are generally fixed on a standard fixed-rate loan, but property taxes, insurance, mortgage insurance, and HOA dues can change. Escrow adjustments can also change the amount collected each month.

Should I enter the home price or the loan amount?

Enter the home price and cash down payment. The calculator subtracts the down payment to estimate the starting loan principal. Do not include a trade-in-style credit or unverified seller concession as cash down.

Is this mortgage payment an official loan quote?

No. It is an educational estimate. Use the lender’s Loan Estimate and Closing Disclosure for the terms and costs of a specific mortgage.