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Mortgage calculator

Calculate your monthly mortgage payment from home price, down payment, rate and term, with property tax, home insurance, PMI and HOA. Plus a table of payments for $100,000 to $1 million loans.

$
%

Under 20% down, most conventional loans add PMI.

%

US average on Oct 1, 2026: 7.28% for a 30-year fixed loan, 6.60% for a 15-year (Freddie Mac). Your rate depends on your credit score and points.

% of price

US average in 2024: 0.89% of the home value. It ranges from about 0.3% in Hawaii to 1.8% in Illinois. Your county’s rate is on the listing or the tax bill.

$

US average for a standard homeowners policy (HO-3) in 2023: $1,737 a year. Get a quote for your home.

% of loan

Applies only with less than 20% down. Typical cost: $30–70 a month per $100,000 borrowed (0.36–0.84% a year), depending on credit score and down payment.

$

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Your monthly payment

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Principal and interest$2,189.48
Property tax$296.67
Home insurance$144.75
PMINone (20% or more down)
HOA fees$0.00
Total each month$2,630.90
Loan amount$320,000
Down payment$80,000
Total interest over the loan$468,213

US mortgage. Property tax, insurance and PMI follow US rules and averages; replace them with the numbers from your own quote.

Monthly payment by loan amount and rate (30-year fixed)

show
Loan5.5%6%6.5%7%7.5%8%
$100,000$568$600$632$665$699$734
$150,000$852$899$948$998$1,049$1,101
$200,000$1,136$1,199$1,264$1,331$1,398$1,468
$250,000$1,419$1,499$1,580$1,663$1,748$1,834
$300,000$1,703$1,799$1,896$1,996$2,098$2,201
$350,000$1,987$2,098$2,212$2,329$2,447$2,568
$400,000$2,271$2,398$2,528$2,661$2,797$2,935
$500,000$2,839$2,998$3,160$3,327$3,496$3,669
$600,000$3,407$3,597$3,792$3,992$4,195$4,403
$750,000$4,258$4,497$4,741$4,990$5,244$5,503
$1,000,000$5,678$5,996$6,321$6,653$6,992$7,338

Principal and interest only. Property tax, insurance and PMI come on top.

A mortgage payment has up to five parts: principal and interest on the loan, property tax, home insurance, private mortgage insurance (PMI) and homeowners association (HOA) fees. Lenders often collect tax and insurance together with the loan payment through an escrow account, so the number on your statement is the total. This calculator shows the total and each part.

How it is calculated

  • Loan amount = home price − down payment.
  • Principal and interest = L × r ÷ (1 − (1 + r)−n), where L is the loan, r the yearly rate ÷ 12 and n the number of monthly payments (360 for 30 years).
  • Property tax and insurance are yearly amounts divided by 12.
  • PMI is a yearly percentage of the loan, charged only with less than 20% down. By US law it ends automatically when the scheduled balance reaches 78% of the home’s original value.

Example

A $400,000 home with 20% down is a $320,000 loan. At 7.28% for 30 years the principal and interest is $2,189.48 a month. Property tax at 0.89% adds $296.67 and insurance of $1,737 a year adds $144.75, for $2,630.90 a month. Over 30 years the interest alone comes to about $468,000. With 10% down the loan is $360,000, principal and interest rise to $2,463.16, and PMI at 0.6% adds $180 a month for almost 10 years. To see what extra payments save, use the amortization calculator.

Outside the US

The loan math is the same everywhere: enter your own rate and term, and set PMI and property tax to 0 if they do not apply. In the UK, council tax and buildings insurance are paid separately, not as part of the mortgage payment. In Canada, fixed-rate mortgages usually compound twice a year, as the Interest Act allows, so the real payment is a little lower than this calculator shows for the same rate.

Frequently asked questions

What is the monthly payment on a $400,000 mortgage at 7%?

$2,661.21 a month for principal and interest on a 30-year fixed loan, or $3,595.31 on a 15-year. Property tax, insurance and any PMI come on top; enter them above to see the full payment.

How much is a $500,000 mortgage at 6% interest?

$2,997.75 a month over 30 years, or $4,219.28 over 15 years, for principal and interest. Over 30 years you would pay about $579,000 in interest.

How much is a $300,000 mortgage payment for 30 years?

It depends on the rate: $1,798.65 a month at 6%, $1,995.91 at 7% and $2,052.64 at 7.28%, the US average on Oct 1, 2026. That is principal and interest only; taxes and insurance usually add a few hundred dollars more.

How is mortgage interest calculated?

Each month the lender charges the yearly rate ÷ 12 on the balance you still owe. The payment stays the same, so early payments are mostly interest and later ones mostly principal. On a $320,000 loan at 7.28%, the first payment is $1,941.33 interest and only $248.15 principal.

Sources

  1. Freddie Mac: Primary Mortgage Market Survey (weekly average rates) — 30-year fixed 7.28%, 15-year 6.60% for the week of Oct 1, 2026
  2. Freddie Mac: Breaking down PMI — cost of $30–70 a month per $100,000 borrowed; automatic termination at 78%
  3. NAHB Eye on Housing: Property taxes by state, 2024 (from Census American Community Survey) — US average $8.88 per $1,000 of home value
  4. NAIC: Dwelling Fire, Homeowners Owner-Occupied and Tenant and Condominium Insurance Report, data for 2023 (July 2026) — Table 4: HO-3 countrywide average premium $1,737
  5. Interest Act (Canada), section 6

By Calcelate Team. Formula from the sources above.

  1. 2026-10-02 · Formula and texts checked
  2. 2026-10-01 · Reference data as of this date