The payment, all in.
Principal, interest, property tax and insurance — the whole monthly payment, not just the part lenders quote.
Amortised at a fixed rate; taxes and insurance divided evenly across twelve months of escrow.
| Principal & interest | $2,252 |
| Property tax | $413 |
| Home insurance | $150 |
| Total monthly payment | $2,814 |
| Total interest over term | $450,656 |
Excludes PMI, usually required below a 20% down payment, along with HOA dues and any rate change on an adjustable-rate loan.
Four numbers make the payment. One is the loan.
Lenders advertise principal and interest. Homeowners pay PITI — principal, interest, taxes and insurance — and the last two are not small. On a typical purchase, tax and insurance add a fifth to a quarter on top of the loan payment, collected monthly into an escrow account and paid out on your behalf. A budget built on the advertised figure is a budget that breaks in the first year.
Inside the loan payment itself, the split between principal and interest shifts over time. Early payments on a thirty-year mortgage are mostly interest; the crossover to mostly principal arrives around the halfway mark. That is what makes a shorter term so much cheaper in total: a fifteen-year loan costs noticeably more each month but can halve lifetime interest, because far less of each payment is rent on the money.
Rate and down payment interact. Below 20% equity most conventional loans require private mortgage insurance, an extra monthly charge that buys you nothing and disappears only once you cross that threshold. Meanwhile each additional point of rate raises a $360,000 payment by roughly $230 a month — which is why rate shopping across several lenders is worth more per hour than almost any other step in the process.
Treat the output here as the recurring cost of ownership, then add what it omits: maintenance, HOA dues where they apply, and closing costs at the start. Lenders qualify you on the payment; you live with the total.
Common questions
How much house can I afford?
A common guide keeps total housing cost under 28% of gross income and all debt under 36%. Run the payment here against that share of your income rather than against the loan amount.
Is a 15-year mortgage worth it?
It costs more monthly and far less overall. If the higher payment still leaves room to save for retirement and emergencies, it is usually the cheaper choice.
What is not in this figure?
PMI below 20% equity, HOA dues, maintenance and closing costs. Escrowed taxes and insurance are included.
Sources & method
Principal and interest are amortised on a fixed rate over the selected term using the standard annuity formula.
Property tax is the annual rate applied to the purchase price and divided by twelve, which is how escrow accounts collect it.
Insurance is the annual premium entered, divided evenly by twelve. PMI and HOA dues are excluded.
The Index
Every calculator is built the same way: real 2026 figures, method printed at the foot of the page.