Monthly payment calculator
Adjust the price, down payment, rate, term, taxes, insurance, and HOA to explore a complete planning estimate.
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Estimated monthly payment
$2,741/mo
Principal, interest, taxes, insurance, at the rate you typed
On a $340,000 loan over 30 years$2,149
Escrowed monthly on most loans$592
If you keep the loan to payoff and never prepay$433,651
Calculator results are estimates for education, not a quote, prequalification, or approval. Verify every figure with your loan officer before making decisions.
In short
Key takeaways
- The drafted payment is PITIA, not P&I. Taxes and insurance routinely add 20 to 40% on top.
- Rate moves P&I; price and down payment move everything. Test all three before you shop.
- Insurance is the wildcard in coastal markets. Get a real quote before you write an offer.
- The interest-over-term line is the cost of the loan itself. Term choice moves it more than anything.
Written and reviewed by the Intel Loans, Inc. lending team · NMLS #2858705Updated July 2026
Before you shop
The payment decides the price, not the other way around.
Most buyers pick a price and hope the payment works. Run it the other way: set a payment you're comfortable with, then see the price, down payment, and rate that land there. The number your servicer drafts is PITIA, so budget the whole stack before you write an offer.
See what you qualify forReading the result
What each input actually moves
Price and down payment set the loan amount, and the loan amount scales principal and interest one-for-one. The rate compounds: on a 30-year loan, a single percentage point of rate moves the payment roughly 9 to 11% and moves lifetime interest far more. Term is the quiet lever: the 15-year payment is higher, but the interest-over-term line usually drops by more than half.
Taxes and insurance don't care about your loan at all. They follow the property: the county sets the tax, the insurer prices the risk. That is why two identical loan amounts can carry very different payments in different states, and why an insurance quote belongs in your budget before an offer, not after.
| Piece | What sets it | You can change it by |
|---|---|---|
| Principal & interest | Loan amount, rate, term | Price, down payment, rate shopping, term |
| Property taxes | County assessment and millage | Buying in a different county; exemptions |
| Homeowners insurance | Property risk and coverage | Shopping carriers; mitigation credits |
| HOA dues | The association's budget | Choosing a different building or none |
| Mortgage insurance | Down payment, credit, program | 20% down, or removal at 80% LTV later |
Payment questions we actually get
Why is my real payment higher than the P&I number in listings?
Listing sites usually quote principal and interest only. Your servicer drafts PITIA: principal, interest, property taxes, homeowners insurance, and any HOA dues, plus mortgage insurance when your down payment is under 20% on a conventional loan. Taxes and insurance alone commonly add several hundred dollars a month.
What rate should I type in?
Use a rate you are testing, not one you saw advertised. Your actual rate depends on credit, property type, occupancy, loan size, and program, and it is only real once a lender puts it on a Loan Estimate. Testing a range, meaning the same loan at a few different rates, tells you more than any single number.
How do taxes and insurance get paid?
On most loans the servicer collects one-twelfth of the annual tax and insurance bills inside each monthly payment and pays them from escrow when due. Some loans allow you to waive escrow and pay those bills yourself, usually for a small pricing adjustment.
Does this calculator include mortgage insurance?
No, because the premium varies too much to fake: it depends on credit score, down payment, and program. The calculator flags when PMI is likely (under 20% down, conventional) so you know to budget for it, and the PMI removal calculator shows when it comes off.
Is a 15-year loan worth the bigger payment?
You trade a higher required payment for a lower rate and dramatically less lifetime interest. Compare the two terms side by side here, then look at the interest-over-term line. Many borrowers split the difference: take the 30-year for flexibility and prepay like a 15.
Want the number for your actual file?
Six quick questions and a licensed loan officer prices your scenario across dozens of lenders. In writing, with no hard credit pull.
Related tools: the PMI removal calculator for when mortgage insurance comes off, and the refinance break-even calculator for whether a lower rate pays for its costs.
This is not a commitment to lend or an offer of credit. All loan approvals are subject to credit review, underwriting, and property evaluation. Programs, terms, and conditions are subject to change without notice.
Intel Loans, Inc., NMLS #2858705. Licensed in Florida. Verify our licensing at nmlsconsumeraccess.org. Equal Housing Opportunity.
Calculator results are estimates for education, not a quote, prequalification, or approval. Verify every figure with your loan officer before making decisions.
Any rates shown are hypothetical examples you enter for estimation, not offers. Actual rates and terms depend on your application and may change or be unavailable at commitment or closing.