Mortgage Calculator
Enter a home price, down payment and rate to see the full monthly payment — not just principal and interest, but the tax and insurance escrow that lenders collect alongside it.
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yrs
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Estimated monthly payment
$2,572.62
- Principal & interest
- $2,022.62
- Property tax
- $400.00
- Home insurance
- $150.00
- Down payment
- $80,000.00
- Loan amount
- $320,000.00
- Total interest over term
- $408,142.36
Frequently asked questions
- What is PMI and when does it apply?
- Private mortgage insurance protects the lender when a borrower puts down less than 20%. It typically costs 0.3% to 1.5% of the loan per year and can usually be removed once you reach 20% equity.
- Should I take a 15-year or 30-year mortgage?
- A 15-year loan carries a lower rate and dramatically less total interest, but a much higher monthly payment. A 30-year loan costs more overall while leaving more monthly cash flow available.