When is PMI required?

Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20% of the home price. The calculator estimates PMI at about 0.5-1% of the loan annually.

Does it include property tax and insurance?

Yes. You can enter estimated annual property tax and homeowner's insurance to see the full monthly payment including escrow.

What is the difference between 15 and 30-year mortgages?

A 15-year mortgage has higher monthly payments but significantly lower total interest. A 30-year mortgage is more affordable monthly but costs more over time.

Can I compare different scenarios?

Change the inputs (rate, down payment, term) and see results update in real-time to easily compare scenarios.

Mortgage Calculator

Calculate monthly mortgage payments including taxes, insurance, and PMI. Compare different mortgage scenarios.

mortgagehome loanhouse paymentproperty tax

Disclaimer: This tool provides estimates for informational and educational purposes only. It does not constitute professional financial, medical, or legal advice. Please consult with a qualified professional before making any significant decisions based on these estimations.

Common Use Cases

comparing repayment or return scenarios
understanding the effect of changing assumptions
reviewing estimates before making a money decision

What is Mortgage Calculator?

The Mortgage Calculator estimates your monthly home loan payment including principal, interest, property taxes, homeowner's insurance, and PMI (if applicable). It helps home buyers understand what they can afford, compare 15-year vs. 30-year mortgages, and see how the down payment percentage affects monthly costs and total interest over the life of the loan.

How to Use This Tool

1Enter home price, down payment, and interest rate
2Add property tax and insurance estimates
3View monthly payment breakdown and total cost

Example

Input

Home: $350,000 | Down: 20% | Rate: 6.5% | 30yr

Output

Payment: $1,769/mo | Total: $636,963

Before You Rely on This Result

UtilityNest keeps tools in this category focused on transparency: short instructions, a worked example, and plain-language guidance so you can review the result before you depend on it.

Check that the inputs reflect your real situation before you rely on the estimate.
Rules, rates, health needs, and legal requirements may vary by country, state, insurer, or provider.
Use this result as a starting point, then confirm important decisions with official sources or a qualified professional.

Frequently Asked Questions

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