Mortgage Payment Calculator
See the parts of a possible monthly housing payment in one place. You can change the numbers as many times as you need.
You do not need a perfect interest rate or a final home price to begin. Start with a price you are considering, then test a few down payments and monthly costs. The goal is to find a payment that leaves room for groceries, transportation, childcare, savings, repairs, and ordinary life.
Before you enter the numbers
- Use annual property taxes for a specific home when you have them.
- Ask an insurance agent for a property-specific estimate. Online averages can miss important details.
- Add HOA dues and mortgage insurance when they may apply.
- Test a higher-cost version too. A plan should not fall apart because one estimate changes.
Your numbers
What goes here?
The price you are considering, or a round number for the price range you are exploring. We started with a Reno-area illustrative example — replace it with your own number.What goes here?
Many programs allow less than 20% down. Try 3%, 5%, 10%, and 20% to see how the payment and PMI estimate change.What is PMI?
PMI is an extra monthly cost lenders usually require on a conventional loan when the down payment is under 20%. It protects the lender, not you, if the loan defaults. It is separate from homeowners insurance. PMI typically drops off once you reach roughly 20% equity, depending on the loan program — it is not a permanent cost. FHA and other loan types use a similar but differently named and structured insurance instead. This box lets you see the estimate with and without it.What goes here?
A common illustrative starting range is about 0.5%-1.5% of the loan amount per year, depending on your down payment, credit, and loan program. We started at 0.7% as a rough Reno-area illustrative example — ask us for a program-specific estimate.What goes here?
This is a placeholder, not a live quote. Check the market-rate context on the Free Tools page or ask us for a current estimate, then update this field.What goes here?
We started with a rough Reno/Washoe County illustrative estimate (about 0.9% of price per year). Your county assessor’s site or a specific property’s tax record will have the real number — use that once you have an address.What goes here?
A rough starting estimate. Ask a licensed insurance agent for a property-specific quote — insurance costs vary a lot by home, location, and coverage.What goes here?
Leave at 0 if the property has no HOA. If it does, the seller’s listing or HOA documents usually list the monthly due.Estimated result
$0
Estimated total monthly payment (principal, interest, taxes, insurance, PMI, HOA)
| Loan amount | $0 |
| Down payment | $0 |
| Estimated total interest over the loan | $0 |
PMI (if applicable) ?Private mortgage insurance, required by many lenders on conventional loans under 20% down. It protects the lender, not you. | $0/mo |
Educational estimate only. Not a loan approval, offer, rate quote, Loan Estimate, or commitment to lend. Your actual payment depends on the property, your credit, the loan program, and current rates.
A lender may approve more than you want to spend
Approval answers what may be available under a loan program. Your comfort level answers a different question. We can compare both without treating the maximum as the goal.
Next, estimate the money needed upfront or read the first-time buyer guide.
What this result cannot know
The calculator cannot confirm a rate, taxes, insurance, HOA details, mortgage insurance, repair costs, or eligibility. Once you have a property and a written loan option, replace the planning numbers with the real ones.
Educational planning only. These tools do not provide a loan approval, offer, rate quote, Loan Estimate, or commitment to lend. Property costs, loan terms, and program rules must be confirmed for the person and property involved. Harry Protopappas, Mortgage Loan Originator, NMLS #2543750. NEXA Mortgage, LLC, NMLS #1660690. Licensed in California and Nevada. Equal Housing Lender.