Mortgage Calculator

Estimate Your Monthly Home Loan Payments Instantly

Use this mortgage payment calculator to estimate your monthly housing costs before you start shopping for a home. Enter your purchase price, down payment, interest rate, and loan term, then adjust the advanced options to include property taxes, homeowners insurance, HOA dues, and PMI.

The calculator will break down your total monthly payment and show how much goes toward principal and interest versus taxes and insurance. These numbers are estimates only and are meant to help you compare scenarios and budget confidently as you plan your next move.

Loan details

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Advanced info Taxes, insurance & HOA ▾
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PMI usually applies when your down payment is 20% or less; rates vary by credit score and other factors and typically range from 0.58% to 1.86% of the original loan amount.

Loan estimate

Total monthly payment

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Monthly payment breakdown
Principal & interest
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Property taxes
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Homeowners insurance
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PMI
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HOA fees
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Total loan summary
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This mortgage calculator is provided for informational and illustrative purposes only and does not constitute financial, legal, or tax advice. The results are estimates based on the information you enter and assumptions that may not reflect current market conditions, lender guidelines, or your specific credit profile. Actual rates, payments, and costs may differ and can change at any time without notice. You should verify all figures with your lender, financial advisor, or other qualified professional before making any decisions. Trimark Realty makes no guarantees as to the accuracy or completeness of the calculations and is not responsible for any actions taken in reliance on these estimates.

This mortgage calculator is a powerful way to test different price ranges and see how they translate into a monthly payment. By adjusting the home price, down payment, interest rate, and loan term, you can quickly see which price points fit your comfort zone.

Many buyers look at their monthly take-home income, then work backward to find a housing budget that allows them to stay comfortable with other expenses and savings goals. Use this calculator to:

  • Compare payments on different price points (for example, $650,000 vs. $700,000).
  • See how increasing your down payment lowers your monthly mortgage and PMI.
  • Test shorter vs. longer loan terms to understand the trade-off between a higher payment and less total interest over time.

Once you’ve found a monthly payment that works for you, we can help you narrow down homes that match your budget and your must-have features.

Private Mortgage Insurance (PMI) is an added cost that typically applies when your down payment is 20% or less of the purchase price. Because the lender is financing a higher portion of the property’s value, PMI helps protect the lender in case you stop making payments.

In this calculator:

  • PMI is automatically applied when your down payment is 20% or less.
  • The PMI amount is calculated using a default rate of 1.5% of the original loan amount, divided over 12 months.
  • When you increase your down payment above 20%, the PMI field deactivates and your monthly PMI drops to $0.

In the real world, PMI rates vary based on your credit score, loan type, and other risk factors. Over time, you may be able to remove PMI by:

  • Reaching at least 20% equity in the home (through payments and/or price appreciation).
  • Refinancing into a new loan without PMI when your equity and credit profile improve.
  • Requesting PMI removal, depending on your lender’s policies, once you’ve built enough equity.

Use the PMI section in this calculator to understand how PMI affects your monthly payment and how increasing your down payment can reduce or eliminate it.

No. This tool provides estimates based on the information you enter and the assumptions built into the calculator. Actual rates, payments, and closing costs will depend on your lender, your credit profile, loan program, and current market conditions. Always talk to a licensed lender for a personalized quote.

You can use a current rate quote from a lender, or a general market rate you’ve seen advertised. Keep in mind that actual rates are influenced by your credit score, debt-to-income ratio, loan amount, and property type. It’s a good idea to test a slightly higher and slightly lower rate to see how sensitive your payment is to rate changes.

This calculator focuses on your monthly payment, including principal, interest, property taxes, homeowners insurance, PMI, and HOA dues. It does not estimate one-time closing costs such as lender fees, escrow fees, title insurance, and prepaid items. Your lender or real estate agent can provide estimates for these one-time costs.

This calculator lets you compare 10-, 15-, 20-, 30-, and 40-year loan terms. Shorter terms typically come with higher monthly payments but much less total interest paid over the life of the loan. Longer terms lower the monthly payment but increase the total interest cost. Use the calculator to see how changing the term affects both your monthly payment and your long-term costs.

Local costs can have a big impact on your monthly payment. Property tax rates, insurance premiums, and HOA dues can vary widely from one neighborhood to the next. This calculator lets you plug in your best estimates so the numbers reflect homes in your local market, not a generic national average.

If you’re unsure what to enter for property taxes, homeowners insurance, or HOA fees:

  • Look at recent listings in the neighborhoods you’re targeting.
  • Ask a local lender or insurance agent for ballpark estimates based on price and property type.
  • Reach out to us for help estimating realistic numbers for specific areas and communities.

The more accurate your inputs, the more useful your monthly payment estimate will be when you’re planning your budget and deciding how much house you’re comfortable buying.

Need Help Turning These Numbers Into a Plan?

Once you’ve explored a few scenarios and found a monthly payment that fits your budget, the next step is connecting the numbers to real homes. Trimark Realty can help you:

  • Connect with trusted local lenders for pre-approval.
  • Understand how different loan options and down payment amounts affect your buying power.
  • Identify homes that match your budget, location, and lifestyle.

If you’d like one-on-one guidance, contact us at 657-206-0303 and we’ll be happy to walk through your results and help you plan your next move.

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