Mortgage Calculator 🏠
Estimate monthly payments with taxes, insurance, HOA, PMI, plus charts and full amortization schedule.
📈 30-Year Mortgage Rate Trend —
Understanding Your Mortgage Payments
A mortgage payment is more than just principal and interest. In most U.S. states and cities, homeowners must also budget for property taxes, homeowners insurance, Homeowners Association (HOA) Fee, and sometimes Private Mortgage Insurance (PMI). These additional costs can add hundreds of dollars to your monthly payment.
Property tax rates vary widely by state and even by county. For example, New Jersey and Illinois often have property tax rates above 2%, while states like Hawaii and Alabama are closer to 0.3%. Insurance costs can also differ depending on whether you live in a hurricane-prone coastal city or a low-risk inland area.
Our calculator allows you to customize all of these values, so you can see an accurate breakdown for your specific location. Whether you’re buying in California, Texas, Florida, or anywhere else in the U.S., adjusting for local taxes and insurance helps you plan a realistic budget.
Why Use a Mortgage Calculator?
- See how different down payments affect monthly payments and total interest.
- Understand the long-term cost of a 15-year vs 30-year mortgage.
- Account for local property tax rates, insurance premiums, and HOA fees.
- Export a full amortization schedule to share with your lender or advisor.
Whether you’re a first-time homebuyer or refinancing your existing mortgage, this tool gives you a full financial picture so you can make informed decisions.