Mortgage Calculator with Taxes, Insurance, PMI & HOA Guide

What This Calculator Does

Subtract the down payment from the home price, calculate fixed-rate monthly principal and interest, then add entered property taxes, homeowners insurance, PMI and HOA dues. Read each cost separately and the monthly housing total.

When to Use It

Compare initial homeownership budget scenarios. For extra principal and earlier payoff use the loan payoff calculator. This page does not check eligibility or look up tax rates from a country or address.

Inputs Explained

Use the same currency for all amounts. Price must be positive, down payment non-negative and no greater than price; amounts are limited to 1 trillion. Annual rate is 0–30%, term 1–50 whole years. Property tax and insurance are annual amounts, while PMI and HOA are monthly. Enter zero for costs that do not apply. These labels describe costs you supply, not fees automatically required in your jurisdiction.

How the Calculation Works

Principal P = price − down payment. Monthly rate r = annual percentage/1200; n = years×12. Principal-and-interest payment = P·r/[1−(1+r)^−n], or P/n at zero rate. A full-cash purchase has no loan payment. Monthly total = payment + annual tax/12 + annual insurance/12 + monthly PMI + monthly HOA. Full-term interest = payment×n − principal; it excludes tax, insurance and HOA.

Example

A 400000 home, 80000 down payment, 6% annual rate and 30-year term produces 320000 principal and about 1918.56 monthly principal and interest. Annual tax 4800 becomes 400/month; annual insurance 1200 becomes 100/month. With PMI zero and HOA 100/month, the budget is about 2518.56/month. A full-cash purchase removes loan payment and interest while entered housing costs remain.

How to Understand the Result

Principal and interest are only part of housing costs. Annual amounts divided by twelve are budget averages, not a claim that bills are collected monthly. Entered PMI and HOA stay constant; PMI is not canceled automatically when equity or a balance threshold changes.

Common Mistakes

Do not enter a monthly premium in the annual insurance field, duplicate one cost in PMI and insurance, or treat example values as quotes. Enter a down-payment amount, not a percentage; the resulting share is shown separately.

FAQ

Are tax and insurance annual or monthly?

Enter annual property tax and homeowners insurance; each is divided by 12. PMI and HOA are entered monthly.

Does PMI stop automatically?

No. The entered monthly PMI stays in the budget. Confirm eligibility and cancellation rules with the lender.

Does this include every homeownership cost?

No. Plan separately for maintenance, utilities and closing costs. You also supply your own tax and insurance amounts.

Notes

No automatic tax rates, insurance quotes, lender eligibility, PMI cancellation policy or regional rules. Closing costs, maintenance, utilities, variable rates and tax benefits are excluded. This is a budget estimate, not a lender quote. Inputs remain in page state without URL or browser-storage persistence.