House Payment Calculator
Calculate your total monthly house payment including estimated principal, interest, taxes, and insurance.
House Payment Calculator
Calculate your total monthly house payment including estimated principal, interest, taxes, and insurance.
Real-World Examples
Price: $400,000, down: $80,000, rate: 6.5%, 30 years
Total payment: ~$2,747/month
Price: $300,000, down: $15,000, rate: 6.5%, 30 years
Total payment: ~$2,283/month (incl. PMI)
Price: $350,000, down: $70,000, rate: 5.5%, 15 years
Total payment: ~$3,008/month
Common Mistakes to Avoid
Budgeting only for principal and interest
Fix: Your real monthly cost includes property taxes, insurance, and possibly PMI or HOA dues. PITI (Principal, Interest, Taxes, Insurance) is the figure lenders use to qualify you.
Assuming tax and insurance estimates are exact
Fix: This calculator uses national averages (~1.1% for taxes, ~0.5% for insurance). Actual rates vary widely by location and property — check local rates for an accurate budget.
Forgetting PMI when putting down less than 20%
Fix: If your down payment is below 20%, lenders require PMI, typically 0.3-1.5% of the loan per year. This calculator estimates 0.5%; your actual PMI may differ.