HomeAfford.
Tool

Mortgage Calculator

See your full monthly payment — principal, interest, property tax, insurance, PMI and HOA — plus the true 30-year cost of ownership most calculators hide.

Loan details

Everything recalculates live. No submit button, no sign-up.

0%20% (no PMI)50%
Interest rate
%
Loan term
State

Applied: 0.75% property tax · insurance factor 1.1×

Extra payment scenario

Add an extra amount toward principal every month and see what it does.

$0+$0/mo$2,000
Estimated monthly payment
$3,219

On a $390,000 loan at 6.85% for 30 years in California.

  • Principal & interest$2,556
  • Property tax (0.75%)$281
  • Homeowners insurance$155
  • PMI auto-applied at 13.3% down; drops at 20%$228
  • Total PITI$3,219

True cost of ownershipWhat most calculators hide

The full 30-year picture — financing, taxes, insurance, upkeep.

Total interest paid
$529,984
Total of all payments
$919,984
Property tax · 30 yr
$101,250
Insurance · 30 yr
$55,688
Maintenance estimate (1%/yr)
$135,000
$4,500/yr
True lifetime cost
$1,271,921

What this calculator actually shows you

Most mortgage calculators stop at principal and interest. That's a fraction of what owning a home actually costs. This tool models the four real components of your monthly payment — known as PITI — plus the long-term expenses that hit your wallet over a 15-, 20-, or 30-year loan.

Principal & interest

Calculated with the standard amortization formula. Early payments are mostly interest; principal accelerates as the balance shrinks.

Property tax

Pulled from realistic per-state effective rates. New Jersey, Illinois, and Texas tend to exceed 1.8%, while Hawaii and Alabama sit under 0.5%.

Homeowners insurance

Estimated from a national baseline and adjusted by state risk factor — Florida and Louisiana run high, Vermont and Oregon run low.

PMI (auto-applied)

If your down payment is under 20%, lenders charge private mortgage insurance — roughly 0.5–1.5% of the loan annually. It drops off automatically at 20% equity.

The "true cost" most buyers underestimate

Over 30 years, a $400,000 mortgage at 6.85% costs roughly $544,000 in interest alone — more than the loan itself. Add property tax, insurance, and the industry rule of thumb that maintenance averages 1% of home value annually, and the true lifetime cost can easily double the purchase price. This calculator surfaces all of it so you can plan honestly.

Mortgage FAQ

Your monthly payment is the sum of principal & interest (calculated using the standard amortization formula), property tax (your home's value × your state's effective tax rate ÷ 12), homeowners insurance, PMI if your down payment is under 20%, and any HOA dues. Together these make up PITI plus HOA.