Mortgage Calculator — Full Monthly Payment with Tax, Insurance, HOA
Monthly mortgage payment with property tax and insurance folded in, plus the total interest across the full term and the down payment percentage.
Yearly costs (optional)
Total monthly payment
$2,529
Total interest
$446,428
Total paid
$766,428
The payment you budget for is not the loan payment
On the defaults — a 400,000 home with 80,000 down at 7% over 30 years — principal and interest come to 2,128.97 a month. That is the number a bare loan calculator gives you.
The actual monthly obligation is 2,528.97, once property tax at 300.00 and insurance at 100.00 are added. Four hundred a month that a loan-only calculation never mentions.
This is why affordability estimates built on principal and interest alone run systematically optimistic, and the gap widens further with an HOA charge or any realistic allowance for maintenance.
You will pay more interest than you borrowed
On a 320,000 loan at 7% over 30 years the interest comes to 446,428.47 — which is 126,428.47 more than the sum borrowed. Total paid: 766,428.47.
That is not a bad loan or a hidden charge. It is simply what a thirty-year term at that rate costs, and the same arithmetic holds for any long amortising loan. What makes it worth stating is that the figure is completely invisible if you only ever look at the monthly payment — which is the only number most people are shown.
Why the early years feel like standing still
The payment is fixed at 2,128.97 but its split is not. Interest is charged on the balance, so when the balance is at its largest the interest share is too, and the principal barely moves.
It reverses gradually: as the balance falls the interest share falls with it and more of each identical payment goes to principal. Nothing is wrong when the balance drops slowly at first — that is the shape of the arithmetic.
The down payment percentage
80,000 on 400,000 shows as 20.0%. The percentage rather than the amount is what lenders look at, because it determines the loan-to-value ratio, and it is commonly the threshold for whether mortgage insurance is required.
What is not in these numbers
- Mortgage insurance, where a lender requires it
- Closing costs
- Maintenance, which is not optional even though it is not billed
- Increases in tax and insurance, both of which do rise over thirty years
A fixed rate is assumed throughout, so an adjustable-rate loan will not follow this schedule at all — the payment moves whenever the rate does.
That last point about tax and insurance deserves emphasis: they are entered here as today's annual figures and held flat for the whole term, which is certainly wrong over thirty years. Treat the monthly total as a floor.
The formula is P x r x (1+r)^n / ((1+r)^n - 1), with r the monthly rate and n the number of months. Everything runs in your browser and nothing is uploaded. For principal and interest without the property costs, the EMI calculator is the same arithmetic.
How to use the Mortgage Calculator
Takes about a minute. No signup, no download, your data stays in your browser.
- 1Open the tool. Scroll up to the Mortgage Calculator above — it loads instantly in your browser, no install needed.
- 2Enter your values. The fields come pre-filled with realistic defaults so you can see how it works — replace them with your own numbers.
- 3Read the result. The output updates instantly. Copy or share it — nothing is uploaded to a server, everything stays on your device.
Frequently asked questions
Common questions about the Mortgage Calculator.
Why is the monthly total higher than the loan payment?
Because tax and insurance are separate obligations that arrive with the house rather than with the loan. On the defaults, principal and interest are 2,128.97 while the actual monthly commitment is 2,528.97 — four hundred a month that a loan-only calculator never shows, which is why affordability estimates based on it run optimistic.
Can the interest really exceed what I borrowed?
Yes. On 320,000 at 7% over 30 years the interest is 446,428.47, which is 126,428.47 more than the loan, for a total paid of 766,428.47. That is not a defect in the loan — it is what a thirty-year term at that rate costs, and it stays invisible if the monthly payment is the only figure you see.
Why does my balance barely move in the early years?
Because interest is charged on the balance, so when the balance is largest the interest portion of each payment is largest and very little goes to principal. The payment itself never changes; the split does, gradually reversing as the balance falls. Slow early progress is the shape of the arithmetic rather than a problem.
Why does the down payment percentage matter more than the amount?
Because lenders assess the loan-to-value ratio rather than the cash figure, and the percentage is commonly what decides whether mortgage insurance is required. Eighty thousand on a four hundred thousand home shows as 20.0%, which is the number that gets looked at.
What costs are missing?
Mortgage insurance where a lender requires it, closing costs, and maintenance — which is unavoidable even though nobody bills you for it. Tax and insurance are also held at today figures for the whole term, and both rise over thirty years, so treat the monthly total as a floor rather than an estimate.
Does this work for an adjustable-rate mortgage?
No. A fixed rate is assumed for the entire term, so the schedule shown does not apply — with a variable rate both the payment and the total interest change whenever the rate moves. Use it to understand the fixed-rate case, and treat any variable-rate figure as valid only until the next adjustment.
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