Mortgage Calculator with Taxes & Insurance

Estimate monthly mortgage payments including principal, interest, property tax, and home insurance. Calculate 15-year and 30-year fixed home loans.

Input Parameters

Currency:

Calculation Result

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Enter values to see real-time calculation.

About Mortgage Calculator

Buying a home is one of the most significant financial investments you will ever make. Accurately estimating your total monthly housing cost requires factoring in not just the loan principal and interest (P&I), but also property taxes, homeowner's insurance, and private mortgage insurance (PMI).

Our online mortgage calculator computes your monthly mortgage payment under fixed-rate loans (e.g. 15-year, 20-year, 30-year terms) and details your total lifetime interest burden.

Mathematical Formula & Calculation Method

📐 Calculation Formula

M = P × [r(1 + r)^n] / [(1 + r)^n - 1] + Monthly Tax + Monthly Insurance

P is the loan amount after down payment, r is the monthly interest rate, and n is the total number of monthly payments.

Variable	Definition / Parameter	Unit
`Home Price`	Total purchase price of the property	Currency
`Down Payment`	Upfront cash paid toward the purchase	Currency / %
`Loan Amount (P)`	Home Price minus Down Payment	Currency
`Interest Rate`	Annual fixed mortgage rate	% / Year
`Loan Term (n)`	Mortgage duration (e.g., 30 years = 360 months)	Years / Months

Step-by-Step Calculation Examples

Example #1

$400,000 Home Purchase with 20% Down ($320,000 Loan at 6.75% for 30 Years)

Scenario: Purchasing a $400,000 house with $80,000 down payment on a 30-year fixed loan.

Given Inputs:

Home Price: $400,000
Down Payment: $80,000 (20%)
Loan Amount: $320,000
Rate: 6.75%
Term: 30 Years (360 Months)

Working: Monthly P&I = $2,075.48 | Total 360 payments = $747,172.80

Calculated Result: Monthly Principal & Interest: $2,075.48 | Total Interest Paid: $427,172.80

How to Use the Mortgage Calculator

Enter the Home Price and Down Payment.
Enter the mortgage Interest Rate % and Loan Term (years).
Optionally enter annual Property Tax and Home Insurance amounts.
View your estimated monthly payment and complete amortization summary.

Common Real-World Use Cases

First-Time Homebuyers

Determine maximum affordable home price based on target monthly budget.

Mortgage Refinancing

Evaluate monthly payment reductions and interest savings when refinancing to a lower interest rate.

Key Features & Capabilities

Full Principal, Interest, Tax, and Insurance (PITI) support.
Side-by-side comparison between 15-year and 30-year terms.
Calculates total lifetime interest payable.

Technical Architecture & Privacy

Mortgage Calculator is engineered with a focus on performance, mathematical accuracy, and maximum user privacy. Operating entirely in-browser on the client side, all processing takes place locally within your browser's JavaScript engine. None of your financial numbers, text entries, or private inputs are ever transmitted to or stored on remote servers.

Frequently Asked Questions

What is the 28/36 rule in mortgages? ▾

Lenders typically recommend that your monthly housing costs (mortgage, taxes, insurance) do not exceed 28% of your gross monthly income, and your total debt payments (mortgage + student loans + car + credit cards) do not exceed 36%.

How does a 15-year mortgage compare to a 30-year mortgage? ▾

A 15-year mortgage has higher monthly payments because you pay off the principal in half the time, but usually comes with a lower interest rate and saves tens of thousands of dollars in total interest.