Free Mortgage Calculator • Updated for 2026
How This Mortgage Calculator Works
This mortgage calculator estimates your total monthly house payment by combining principal and interest with common homeowner costs such as property taxes, home insurance, HOA fees, and PMI.
Your actual payment may vary based on your lender, loan type, credit score, escrow setup, local taxes, and insurance provider.
What Is Included in the Monthly Payment?
Your estimated monthly payment may include:
- Principal and interest
- Property taxes
- Home insurance
- HOA fees
- PMI, if applicable
Why Use a Mortgage Calculator?
A mortgage calculator helps you compare different home prices, down payments, loan terms, and interest rates before buying a home. It can also help you understand how taxes, insurance, HOA dues, and PMI affect your real monthly housing cost.
FAQ
How is a mortgage payment calculated?
A mortgage payment is typically calculated using the loan amount, interest rate, and loan term. Many homeowners also include property taxes, home insurance, HOA fees, and PMI to estimate the full monthly cost.
Does this calculator include taxes and insurance?
Yes. This calculator includes optional fields for annual property taxes and annual home insurance.
What is PMI?
PMI stands for private mortgage insurance. It is often required when a buyer makes a down payment of less than 20%.
Is this mortgage calculator exact?
No. This calculator provides an estimate. Your final payment may vary based on lender fees, escrow requirements, local taxes, insurance premiums, and loan terms.