Mortgage Payment Simulator
Estimate Your Mortgage Payment
See your estimated monthly payment including principal, interest, taxes, insurance, HOA, and mortgage insurance when applicable.
Fast, simple, and built for real homebuyers and homeowners.
Your loan scenario
Adjust the numbers to match your situation.
Estimated Monthly Payment
$3,311
Conventional · 30-yr · 6.625%
Principal & Interest$2,593
Property Taxes$450
Homeowners Insurance$150
HOA$0
Mortgage Insurance (est.)$118
Total$3,311
Saved scenarios
Save this setup to compare later, or copy a link with your inputs prefilled.
Ready for your next step?
Get your actual rate, start an application, or talk to a real person on our team.
Understanding your mortgage payment
A mortgage payment is more than principal and interest. This simulator builds the full picture — taxes, insurance, HOA dues, and mortgage insurance — so the number you plan around is the number you actually pay each month.
What goes into the estimate
- Principal & interest — amortized from your loan amount, interest rate, and term.
- Property taxes — estimated annually from home value and divided monthly into escrow.
- Homeowners insurance — an annual premium collected monthly.
- Mortgage insurance — conventional PMI, FHA MIP, or the USDA annual fee, based on program and loan-to-value.
- HOA dues — added directly to the monthly total when applicable.
Loan program guides
Refinance CalculatorEstimate your new payment, closing costs, and break-even point on a refinance.FHA Loan Calculator3.5% down, upfront MIP, and annual MIP built into the monthly payment estimate.VA Loan CalculatorZero down with the VA funding fee and no monthly mortgage insurance.
Frequently asked questions
- What is included in the estimated monthly mortgage payment?
- The estimate includes principal and interest, property taxes, homeowners insurance, HOA dues, and mortgage insurance (PMI, FHA MIP, USDA annual fee) when it applies. Together these are commonly called PITI.
- How much down payment do I need?
- Conventional loans can start at 3% down, FHA at 3.5%, and VA and USDA loans allow 0% down for eligible borrowers. Putting 20% down on a conventional loan removes monthly mortgage insurance.
- How is private mortgage insurance (PMI) calculated?
- PMI is priced from your loan-to-value ratio and credit score and is charged as an annual percentage of the loan balance, divided into 12 monthly payments. It generally drops off once you reach 20% equity on a conventional loan.
- How does the refinance break-even calculator work?
- It compares your estimated monthly savings against your estimated upfront closing costs. Dividing costs by monthly savings gives the number of months it takes to recoup the cost of refinancing.
- Can I roll closing costs into my refinance loan?
- Yes. In refinance mode you can add your closing costs to your payoff balance so the new loan amount includes them, then compare the resulting payment against your current payment.
- Is this calculator a loan approval or rate lock?
- No. It is an educational estimate only and not a commitment to lend. Your actual rate and payment depend on credit, property, occupancy, and final underwriting.