Mortgage Payment Calculator

Mortgage Blog

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Accurate information for life’s biggest decisions

Mortgage Calculator

Use our free mortgage calculator with taxes, insurance, and PMI to see the true cost of homeownership. Unlike basic calculators, this tool factors in your annual property taxes, homeowners insurance, and private mortgage insurance (PMI) — giving you a realistic estimate of your monthly payment.

Why Include Taxes, Insurance, and PMI?

When you buy a home, your monthly payment goes beyond just principal and interest. Here’s what this calculator helps you account for:

Property Taxes – Local governments charge annual taxes based on your home’s assessed value. These can add hundreds of dollars per month to your payment.
Homeowners Insurance – Protects your property against fire, theft, and damage. Most lenders require you to carry a policy.
PMI (Private Mortgage Insurance) – If your down payment is less than 20%, lenders often require PMI. It protects the lender, but it affects your monthly budget.

By including these costs, you’ll avoid underestimating what you can truly afford.

How do you use the calculator?

Enter your loan amount, and select your term. Real interest rates will be updated from across the country so you can see realistic mortgage payments.
Add your annual property taxes (the calculator divides them into monthly payments).
Add your annual homeowners insurance premium.
If your down payment is below 20%, enter your PMI percentage.

You’ll instantly see a breakdown of your monthly payment, including principal, interest, taxes, insurance, and PMI.

Benefits of using this Financial Calculator

Realistic Budgeting – Know exactly how much house you can afford.
Compare Loan Options – See how different rates, terms, or down payments impact your payment.
Plan for the Future – Adjust taxes, insurance, or PMI to model changes over time.
Avoid Surprises – Be prepared for all monthly costs, not just the loan itself.

Frequently Asked Questions

Do property taxes and insurance go up over time?

Yes, both can increase annually. Our calculator helps you estimate today’s costs, but you should budget for gradual increases.

When does PMI go away?

PMI usually ends when you’ve built 20% equity in your home. Refinancing or requesting removal can eliminate the charge sooner.

Try the SmartCalc Advantage

Many online calculators leave out taxes, insurance, and PMI — giving you a partial picture. With SmartCalc, you get personalized, AI-powered results that show the full financial impact of your mortgage.

When does PMI go away?

PMI usually ends when you’ve built 20% equity in your home. Refinancing or requesting removal can eliminate the charge sooner.

Mortgage Payment Calculator

Mortgage Blog

Accurate information for life’s biggest decisions

Mortgage Calculator

Why Include Taxes, Insurance, and PMI?

When you buy a home, your monthly payment goes beyond just principal and interest. Here’s what this calculator helps you account for:

Property Taxes – Local governments charge annual taxes based on your home’s assessed value. These can add hundreds of dollars per month to your payment.
Homeowners Insurance – Protects your property against fire, theft, and damage. Most lenders require you to carry a policy.
PMI (Private Mortgage Insurance) – If your down payment is less than 20%, lenders often require PMI. It protects the lender, but it affects your monthly budget.

By including these costs, you’ll avoid underestimating what you can truly afford.

How do you use the calculator?

Enter your loan amount, and select your term. Real interest rates will be updated from across the country so you can see realistic mortgage payments.
Add your annual property taxes (the calculator divides them into monthly payments).
Add your annual homeowners insurance premium.
If your down payment is below 20%, enter your PMI percentage.

You’ll instantly see a breakdown of your monthly payment, including principal, interest, taxes, insurance, and PMI.

Benefits of using this Financial Calculator

Realistic Budgeting – Know exactly how much house you can afford.
Compare Loan Options – See how different rates, terms, or down payments impact your payment.
Plan for the Future – Adjust taxes, insurance, or PMI to model changes over time.
Avoid Surprises – Be prepared for all monthly costs, not just the loan itself.

Frequently Asked Questions

Do property taxes and insurance go up over time?

Yes, both can increase annually. Our calculator helps you estimate today’s costs, but you should budget for gradual increases.

When does PMI go away?

PMI usually ends when you’ve built 20% equity in your home. Refinancing or requesting removal can eliminate the charge sooner.

Try the SmartCalc Advantage

Many online calculators leave out taxes, insurance, and PMI — giving you a partial picture. With SmartCalc, you get personalized, AI-powered results that show the full financial impact of your mortgage.

When does PMI go away?

PMI usually ends when you’ve built 20% equity in your home. Refinancing or requesting removal can eliminate the charge sooner.

Mortgage Payment Calculator

Mortgage Blog

Accurate information for life’s biggest decisions

Mortgage Calculator

Why Include Taxes, Insurance, and PMI?

When you buy a home, your monthly payment goes beyond just principal and interest. Here’s what this calculator helps you account for:

Property Taxes – Local governments charge annual taxes based on your home’s assessed value. These can add hundreds of dollars per month to your payment.
Homeowners Insurance – Protects your property against fire, theft, and damage. Most lenders require you to carry a policy.
PMI (Private Mortgage Insurance) – If your down payment is less than 20%, lenders often require PMI. It protects the lender, but it affects your monthly budget.

By including these costs, you’ll avoid underestimating what you can truly afford.

How do you use the calculator?

Enter your loan amount, and select your term. Real interest rates will be updated from across the country so you can see realistic mortgage payments.
Add your annual property taxes (the calculator divides them into monthly payments).
Add your annual homeowners insurance premium.
If your down payment is below 20%, enter your PMI percentage.

You’ll instantly see a breakdown of your monthly payment, including principal, interest, taxes, insurance, and PMI.

Benefits of using this Financial Calculator

Realistic Budgeting – Know exactly how much house you can afford.
Compare Loan Options – See how different rates, terms, or down payments impact your payment.
Plan for the Future – Adjust taxes, insurance, or PMI to model changes over time.
Avoid Surprises – Be prepared for all monthly costs, not just the loan itself.

Frequently Asked Questions

Do property taxes and insurance go up over time?

Yes, both can increase annually. Our calculator helps you estimate today’s costs, but you should budget for gradual increases.

When does PMI go away?

PMI usually ends when you’ve built 20% equity in your home. Refinancing or requesting removal can eliminate the charge sooner.

Try the SmartCalc Advantage

Many online calculators leave out taxes, insurance, and PMI — giving you a partial picture. With SmartCalc, you get personalized, AI-powered results that show the full financial impact of your mortgage.