Mortgage Calculator with Taxes, Insurance & PMI
Figures verified
Estimate your full monthly payment: principal and interest, property tax, homeowners insurance, PMI, and HOA dues. Choose a state to start from that state's average property tax rate and home value.
Your details
Switching state opens that state's calculator.
$80,000 · under 20% adds PMI
Freddie Mac avg 6.71% (September 3, 2026)
National median about 0.9%
Estimate. Replace with a quote.
Applied while balance is above 80% of price.
Results
Estimated monthly payment: $2,483.68, including $2,067.01 principal and interest, $300.00 property tax, and $116.67 insurance on a $320,000 loan at 6.71% for 30 years. Total interest over the loan: $424,125.
Estimated monthly payment
$2,483.68
$2,067.01 principal & interest on a $320,000 loan
- Principal & interest83.2%
- Property tax12.1%
- Home insurance4.7%
- Total interest
- $424,125
- over 30 years
- Total cost of loan
- $744,125
- principal + interest + PMI
What goes into a mortgage payment
Lenders talk about PITI: Principal, Interest, Taxes, and Insurance. Principal and interest are fixed by your loan amount, rate, and term. Property tax and insurance are collected into escrow and change over time. If you put down less than 20%, PMI is added until you build enough equity.
Monthly payment examples
20% down, 30-year fixed at 6.71%, 0.9% property tax, insurance at 0.35% of price, no HOA.
| Home price | P&I | Property tax | Total / month |
|---|---|---|---|
| $240,000 | $1,240 | $180 | $1,490 |
| $320,000 | $1,654 | $240 | $1,987 |
| $400,000 | $2,067 | $300 | $2,484 |
| $500,000 | $2,584 | $375 | $3,105 |
| $600,000 | $3,101 | $450 | $3,726 |
How the math works
The monthly principal-and-interest payment uses the standard amortization formula: P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12), and n the number of payments. Property tax is the home price times the annual rate divided by 12. Insurance and HOA are divided into monthly amounts. PMI is the annual PMI rate times the current balance, divided by 12, and stops once the balance falls to 80% of the price.
Frequently asked questions
What is the average property tax rate in the U.S.?
Nationally, homeowners pay roughly 0.9% to 1.0% of their home's value in property tax each year, but the range runs from under 0.3% in Hawaii to nearly 1.9% in New Jersey and Illinois. Pick your state above to use that state's average.
What is a typical home price in the U.S. right now?
Typical home values range from under $200,000 in West Virginia and Mississippi to over $800,000 in Hawaii and California. Choose a state to start from that state's typical value.
What mortgage rate should I use?
The calculator starts with the national average 30-year fixed rate of 6.71% (15-year: 6.04%) reported by Freddie Mac for the week of September 3, 2026. Your rate depends on credit score, down payment, points, and lender, so replace it with an actual quote when you have one.
When do I have to pay PMI?
Private mortgage insurance is usually required on conventional loans when you put down less than 20%. It typically costs 0.3% to 1.5% of the loan balance per year and drops off once your loan-to-value ratio reaches 80% (you can request cancellation) or 78% (automatic). This calculator applies PMI only while your balance is above 80% of the purchase price.
How much does an extra monthly payment save?
Extra principal payments go straight to the balance, so every future month accrues less interest. On a 30-year loan, even $100 to $200 a month typically cuts several years off the term and saves tens of thousands in interest. Enter an amount in "Extra principal per month" to see the exact savings for your loan.
Data sources & last verified
Last verified
- Freddie Mac Primary Mortgage Market Survey via FRED (MORTGAGE30US, MORTGAGE15US) (opens in new tab) Retrieved · effective September 3, 2026 · Weekly national average for conforming 30-year fixed-rate loans; your quote will differ.
We re-check these figures when agencies publish updates and at least quarterly. See our data policy for how corrections are handled, or report an error.