Monthly payment
Mortgage Calculator: Payment With Taxes and Insurance
Estimate a full monthly mortgage payment: principal and interest plus property tax, homeowners insurance and HOA dues, from the price, down payment, rate and term.
- Principal and interest
- $2,335
- Property tax
- $3751.00% of the price per year.
- Homeowners insurance
- $150
- Loan amount
- $360,000
- Loan-to-value
- 80.0%
- Total interest over 30 years
- $480,583
How the math works
- 1
Principal and interest
The standard amortization formula on the loan amount, rate and term: the same payment every month, with the interest share shrinking over time.
- 2
Taxes and insurance
Yearly property tax (price times the rate) and the yearly insurance premium, each divided by twelve. Lenders collect both in escrow with the payment.
- 3
Total
Add HOA dues. Mortgage insurance, if the down payment is under 20% on a conventional loan, comes on top; the PMI calculator estimates it.
Worked example with the starting figures above: total monthly payment $2,860; principal and interest $2,335; property tax $375; homeowners insurance $150; loan amount $360,000; loan-to-value 80.0%; total interest over 30 years $480,583. Rates are illustrative examples, not a quote.