Mortgage Calculator for Monthly Payments Interest and Taxes

The mortgage calculator estimates the monthly cost of a fixed-rate home loan, including principal and interest plus escrowed property tax and homeowners insurance. Buyers use it when a listing price and a quoted rate need to become a realistic housing budget. Enter the home price, down payment, annual interest rate, term in years, annual property tax, and annual insurance. Principal is home price minus down payment. The headline result is the combined monthly total, often called PITI without mortgage insurance. Principal and interest use the standard amortization formula on the principal with monthly rate i = r/12 and n = years × 12. Property tax and insurance are divided by 12 and added to that payment. Total interest assumes you make the scheduled principal-and-interest payment for the full term with no extras: payment × n − principal. That interest figure does not include tax or insurance, which continue as long as you own the home. Use the mortgage calculator to test a 5% versus 20% down payment, to see how a half-point rate change moves the monthly total, and to compare a 15-year term with a 30-year term before making an offer. Because tax and insurance are annual inputs, update them from the listing, a tax assessor estimate, or an insurance quote rather than guessing a round number. PMI, HOA dues, flood insurance, and closing costs are not included; use the taxes-and-insurance mortgage calculator when PMI and HOA matter. Lenders qualify borrowers with debt-to-income rules that may count a different insurance or tax estimate. Escrow cushions, impound account changes, and municipal tax reassessments will move the real draft after closing. The result is a planning estimate, not a Loan Estimate or Closing Disclosure. Recalculate when the purchase price, rate lock, or tax bill changes, and keep taxes and insurance on an annual basis so the monthly split stays consistent.