Mortgage Payment Calculator
Mortgage Payment Calculator
Estimate your real monthly home payment, including principal and interest, property taxes, homeowners insurance, PMI, HOA fees, utilities, and maintenance.
Payment estimate
Start with the numbers that shape your monthly payment
Adjust the basics first, then refine taxes, insurance, and ongoing home costs.
Refine taxes, insurance, and monthly costs
Estimated monthly home cost
$3,577 / month
A more realistic estimate that includes both the mortgage payment and the ongoing costs of owning the home.
Principal & Interest
$2,307
Property Taxes
$443
Home Insurance
$125
PMI
$152
HOA
$0
Utilities
$250
Maintenance
$300
Total estimated monthly cost
$3,577
Upfront cash
Cash needed upfront
This estimate includes the down payment only.
Down payment
$60,000
Closing costs are not currently included in this estimate.
Why this helps
Mortgage payment vs. real home cost
Many mortgage calculators show only principal and interest. Owning a home can also include property taxes, homeowners insurance, PMI, HOA fees, utilities, and maintenance. AffordSimple includes those costs so you can see a more realistic monthly commitment.
Example home prices
Explore mortgage payment examples
Start with a purchase price, then adjust every assumption.
Explore more calculators
Explore more calculators
Not sure what home price fits your income?
How is a mortgage payment calculated?
Principal and interest are based on the loan amount, the interest rate, and the repayment term. A larger loan or higher rate raises the payment, while a longer term lowers the monthly payment but stretches repayment over more years.
What is included in your monthly home payment?
This estimate includes principal, interest, property taxes, homeowners insurance, PMI when applicable, HOA fees, utilities, and maintenance. Utilities and maintenance are not part of the mortgage itself, but they still matter when you are estimating the real monthly cost of owning a home.
How does the down payment affect your mortgage payment?
A larger down payment reduces the loan balance, which lowers the principal and interest portion of the payment. It can also remove PMI once the down payment reaches at least 20% of the home price.
How does the interest rate affect your payment?
Even a modest rate change can materially shift the monthly payment because interest affects every payment over the full loan term.
15-year vs. 30-year mortgage
A 15-year mortgage usually has a higher monthly payment but less total interest over time. A 30-year mortgage usually lowers the monthly payment but keeps the loan in place for longer.
Frequently asked questions
Frequently asked questions
What will my monthly mortgage payment be?
Your monthly home payment depends on the loan amount, interest rate, loan term, property taxes, insurance, and any additional monthly home costs such as HOA fees, utilities, and maintenance.
Does this calculator include property taxes?
Yes. Property taxes are included in the monthly estimate using the tax rate you enter.
Does this calculator include PMI?
Yes. PMI is included when the down payment is below 20% of the home price.
Does this calculator include homeowners insurance?
Yes. Annual homeowners insurance is converted into a monthly cost and included in the estimate.
Are utilities included in a mortgage payment?
Utilities are not part of the mortgage itself, but AffordSimple includes them here to show a more realistic monthly ownership cost.
Is this a loan approval?
No. This calculator is an estimate, not a loan approval or lending decision.