Mortgage Calculator
Full monthly payment with taxes, insurance & PMI
See your real monthly house payment — not just principal and interest, but property taxes, insurance and PMI too. Enter the details below.
What PITI means
Your payment is more than the loan: Principal, Interest, property Taxes and Insurance. With less than 20% down, lenders also add PMI (private mortgage insurance), which we estimate at ~0.5%/yr of the loan.
Estimate only — your lender's exact figures, taxes and insurance will vary.
How the down payment changes everything
A bigger down payment cuts your loan, your monthly payment and your total interest — and reaching 20% down removes PMI entirely, often saving over a hundred dollars a month. It also strengthens your offer. But don't drain your emergency fund to get there; lenders also want to see cash reserves after closing.
Rate and term are the other big levers
A lower interest rate or a shorter term can save tens of thousands over the life of the loan. A 15-year mortgage carries a higher monthly payment than a 30-year but a much lower total interest cost. Change the rate and term above to see how sensitive both the payment and the lifetime cost really are.
Mortgage Calculator: frequently asked questions
How much is the monthly payment on a $300,000 mortgage?
At 6.5% over 30 years, principal and interest is about $1,896/month — before taxes, insurance and any PMI.
What is PMI and when do I pay it?
Private mortgage insurance is usually required when you put down less than 20%, and can often be dropped once you reach 20% equity.
How much income do I need for a $300,000 mortgage?
Under the common 28% rule, a roughly $1,900–$2,400 monthly payment (including taxes and insurance) suggests a gross income of about $80,000–$100,000, depending on your other debts, rate and down payment.