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Debra AllenREALTOR® · Garland + DFW
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Planning tool

Mortgage payment calculator

Estimate principal, interest, taxes, insurance, mortgage insurance and HOA dues together. This is a planning estimate, not a loan quote.

Your estimate

Adjust the assumptions to see principal, interest, taxes, insurance, mortgage insurance, and HOA costs together.

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Automatically removed from this estimate when the down payment reaches 20%.

Estimated monthly payment

$2,754

per month

Principal and interest$2,102
Property taxes$350
Homeowners insurance$150
Mortgage insurance$152
HOA$0
Estimated loan amount$332,500
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Your numbers aren't saved or sent anywhere. Want a second opinion? Note your result and bring it to a consultation with Debra.

Planning estimate only. Actual loan terms, taxes, insurance, mortgage insurance, fees, and eligibility vary by property, lender, and borrower.

The short answer

What goes into a monthly mortgage payment?

Usually more than the loan. Principal and interest repay what you borrow; property taxes and homeowners insurance are often collected with the payment through an escrow account; mortgage insurance may apply when the down payment is small; and HOA dues, where a home has them, arrive every month too. This calculator adds all five, so the number on the screen is closer to the month you would actually live with.

What this estimate includes

  • Principal and interest, from the loan amount, interest rate and term you enter.
  • Property taxes and homeowners insurance, from the yearly amounts you enter, divided by twelve.
  • Mortgage insurance at the rate you enter, removed once the down payment reaches 20% of the price.
  • Monthly HOA dues.

What it leaves out

  • Utilities, maintenance and repairs.
  • Changes to taxes or insurance after you buy.
  • Your actual interest rate, which only a lender can quote.
  • Loan types that charge mortgage insurance differently, or for longer, than this simple rule.

Common questions

What people ask next

Is this a loan quote?

No. It is a planning estimate built from the numbers you enter. A lender's Loan Estimate is the document that shows a real rate, payment and costs for a specific loan.

Why does mortgage insurance drop off at 20% down?

On many conventional loans, mortgage insurance is required when the down payment is less than 20% of the price, and this calculator follows that simple rule. Other loan types handle it differently, so ask your lender how it works on the loan you are considering.

Where do I find property tax and insurance numbers?

For a specific home, the county appraisal district's records show the current tax figures, and an insurance agent can quote coverage. Until you have a home in mind, the starting values in the calculator are placeholders to replace with your own numbers, not local averages.

Keep planning

Where this number fits

Rates, approval and the final figures come from a lender. Debra can help you read an estimate in context and know which questions to bring them.

Review it with Debra