Mortgage payment breakdown
Monthly housing cost estimator
Estimate mortgage principal and interest, then add entered monthly property taxes, homeowners insurance, mortgage insurance, and association fees.
Estimate monthly principal and interest, then add the housing costs you enter. Use figures from written estimates or local bills where available; this tool does not supply tax, insurance, or lender estimates.
Enter the loan assumptions and any monthly cost estimates, then calculate.
The added costs are your inputs, not quotes. This estimate assumes a fixed rate, monthly payments, and APR ÷ 12. It excludes utilities, maintenance, closing costs, and any other costs not entered.
What this monthly estimate includes
For a fixed monthly rate, principal and interest use the standard amortization formula: payment = loan × r ÷ (1 − (1 + r)−n), where r is the annual rate divided by 12 and n is the number of monthly payments. At 0% interest, the modeled payment is loan amount divided by the number of payments. The displayed total is principal and interest plus the four monthly costs you enter. These added costs are estimates, not lender quotes.
Some costs may be collected through escrow; others may be paid directly, and association fees are often separate. Compare the inputs with your local bills and the Loan Estimate’s estimated total monthly payment and estimated taxes, insurance, and assessments. Taxes and insurance can change. CFPB: Loan Estimate explainer (checked November 3, 2026). The CFPB’s payment-component guidance was last reviewed August 28, 2023: principal and interest versus the total monthly mortgage payment.
To compare different down-payment amounts, quoted rates, PMI, and cash-to-close assumptions, use the mortgage down-payment scenario comparison. To compare ongoing rent with an entered purchase scenario, use the rent vs. buy comparison; it assumes no home price change. For a principal-and-interest-only calculation, use the mortgage payment calculator. To model an extra monthly principal payment, see the mortgage extra payment calculator. To compare an entered balance with PMI cancellation benchmarks, use the PMI cancellation checker and confirm your loan’s rules with your servicer.
How it works
Enter the loan amount, fixed annual interest rate, term, and monthly estimates for the listed housing costs. The result keeps the principal-and-interest estimate separate from costs you enter.
Good to know
Is the total a lender quote or complete cost of owning a home?
No. Principal and interest are modeled from your loan inputs; taxes, insurance, mortgage insurance, and association fees are amounts you supply. The tool excludes costs such as utilities, maintenance, closing costs, and anything not entered. Compare with written lender estimates and current bills.
Are property taxes and insurance always part of the mortgage payment?
Not always. A lender may collect some costs through escrow, while other costs may be paid separately. Association fees are commonly separate. Check the Loan Estimate, servicer information, and local bills. CFPB guidance last reviewed August 28, 2023.
How is principal and interest calculated?
The estimate uses a standard fixed-rate amortization formula with monthly interest at annual rate divided by 12 and equal monthly payments. It does not model adjustable rates, lender-specific rounding, or payment timing differences.
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