Mortgage Calculator Monthly Payment + Taxes & PMI
Mortgage calculator with property taxes, PMI, HOA, insurance & amortization schedule. Instantly see your real monthly payment - accurate, no sign-up, updated rates.
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Table of Contents
Mortgage Payment Calculator 2025: Figure Out Your Monthly Cost:
Let's be real: buying a home is a HUGE deal. Before you start picking out paint colors and imagining your life in a new place, you need to answer the biggest question of all: Can I truly afford this?
That's why we created this free Mortgage Calculator. Forget complicated math—in about 10 seconds, you'll see a crystal-clear estimate of your total monthly payment. This includes everything: the loan itself (principal and interest), plus taxes, insurance, and all the other fees.
How Does This calculator Work?
It uses a smart formula to combine every single cost, so you get a realistic number:
Principal & Interest: The core of the loan (calculated using the standard formula).
Property Taxes: Your annual tax rate is divided into monthly payments.
Homeowners Insurance: Protecting your investment.
PMI (Private Mortgage Insurance): We automatically add this if you're putting down less than 20%.
HOA Fees: If your neighborhood has them.
Any other recurring home costs!
The final number you see is the number you can trust-it's what you'll actually see on your mortgage statement.
The $500,000 Home Reality Check (2025)
Let's walk through what actually happens when you buy a $500,000 house. It's never just the principal and interest payment; there's a lot of "hidden" stuff that needs to be factored in.
10% down payment ($50,000)
6.8% interest rate (30-year fixed)
1.3% property tax rate
$1,800/year homeowners insurance
$150/month HOA
0.5% PMI (since down payment < 20%)
Result from our calculator:
| Item | Monthly | Total Over 30 Years |
|---|---|---|
| Principal & Interest | $2,936 | $1,056,118.80 |
| Property Taxes | $541.67 | $195,000 |
| Homeowners Insurance | $150 | $54,000 |
| PMI | $187.50 | ~$15,000 (drops after ~9 years) |
| HOA Fees | $12.50 | $4,500 |
| Total Monthly Payment | $3,825.33 | $1,375,080 |
That $500,000 house is actually going to cost you $3,986 every single month, not the $2,936 that a simple calculator would suggest. That's a difference of over $1,000!
Knowing this total now means you know the truth before you even start talking numbers with a lender.
15-Year vs 30-Year Mortgage: Which Is Better in 2025?
| Factor | 15-Year Mortgage | 30-Year Mortgage |
|---|---|---|
| Interest Rate | Lower (e.g. 6.1%) | Higher (e.g. 6.8%) |
| Monthly Payment | Higher | Lower |
| Total Interest Paid | Much less | Much more |
| Payoff Time | 15 years | 30 years |
| Equity Build | Faster | Slower |
To have a better idea of the difference, we will use the money on a $400000 loan:
The 15-Year Path (at 6.1%):
You would pay approximately $3,430 a month.
The total interest cost on the loan would be about $217,000.
The 30-Year Path (at 6.8%):
Your monthly payment reduces to an average of $2610.
However, you would pay a lot of interest, and that is $539 000 in total interest.
Assuming you can afford the $820-a-month hike in your monthly payment (i.e., $2,610 to $3,430), you can have a massive winner with the 15-year option! You would save more than $320,000 in interest - that is a huge sum of money.
The good news? The comparison between the two is extremely easy and quick with our calculator, which displays them side by side.