Mortgage inputs
All figures are estimates and can be adjusted for scenario planning.
Essential Calculator
Mortgage Calculator
Estimate principal and interest, then layer in taxes and insurance to see a more realistic monthly mortgage payment.
How to use this page
- Start with home price, down payment, rate, and term.
- Add annual property tax and annual insurance for a fuller monthly estimate.
- Use the chart to understand how slowly mortgage balances decline early in the term.
Results
Monthly payment$3,177
Total interest$525,765
Total paid$1,143,765
M360$0
What this calculator helps you see
Mortgage shopping gets easier when a calculator shows the true all-in monthly cost, not just principal and interest. This page keeps that breakdown visible without overcomplicating the inputs.
When to use this calculator
Compare homes realistically
This calculator is useful when two homes have similar list prices but very different tax bills, insurance costs, or financing assumptions.
Stress-test affordability
You can quickly model what happens if rates move up, your down payment changes, or you need to leave more room in your monthly budget.
Formula
Housing payment = mortgage payment + taxes/12 + insurance/12
The mortgage payment uses the same amortization formula as a standard loan, then monthly escrow-style costs are added.
Worked example
A borrower financing $420,000 at 6.4% over 30 years may find that taxes and insurance materially change the affordability picture even when the principal-and-interest payment looks acceptable.
| Item | Value |
|---|---|
| Mortgage principal | $420,000 |
| Interest rate | 6.4% |
| Annual property tax | $4,800 |
| Annual insurance | $1,800 |
Related calculators
Before you decide
- Outputs are estimates and should be reviewed against lender or plan-specific terms.
- Inputs are intentionally transparent so assumptions are easy to audit.
- Rates, fees, taxes, and account terms can change the final result.
Page details
- Updated April 15, 2026
- For assumptions and general guidance, see Methodology.
- For how explanatory content is written, see Editorial Policy.
What changes monthly cost most
| Factor | Typical effect | Why it matters |
|---|---|---|
| Rate increase | High | A higher rate changes both payment and lifetime interest |
| Higher taxes | Medium | Escrow costs rise even if the loan amount stays the same |
| Shorter term | High | Monthly cost rises, but principal falls faster |
Common questions
Why is my early mortgage payment mostly interest?
Mortgage amortization is front-loaded because the balance is largest at the start, so the interest portion of each payment begins high and declines over time.
Should taxes and insurance be included?
Including them produces a more realistic monthly housing number, especially when comparing affordability across homes or rates.