The monthly payment, with taxes, insurance and dues added in
Principal and interest is only part of what you pay each month. Add property taxes, homeowners insurance, mortgage insurance and HOA dues for a fuller estimate of your mortgage payment. Put in a rate and this adds them up.
Monthly payment
What that works out to
- Loan amount
- $640,000
- Principal and interest
- Needs a rate
- Property taxes
- $733
- Homeowners insurance
- $150
- HOA dues
- $0
- Total each month
- Needs a rate
Mortgage insurance is not charged here: the loan is small enough against the value.
Enter the rate you have been quoted and the numbers appear. We do not publish rates.
These are estimates from the figures you entered, not a quote, an offer, or a commitment to lend.
A calculator works from the figures you typed into it. Your loan officer works from your file and your credit, against the lenders on our panel.
Ask us for a real quoteHow the math works
Principal and interest comes from the standard amortization formula: your rate spread across the months in the term you picked, solved for the payment that clears the loan at the end of it. A rate of nothing still works: the payment is then the loan divided evenly across the months rather than an error.
Property taxes are the assessed value times the rate you entered, divided by twelve. For a purchase this calculator uses the price as the assessed value, which is why the tax figure moves when you change the price and sits still when you change the loan.
Homeowners insurance is the annual figure divided by twelve. HOA dues are already monthly, so they go in as they are.
In this calculator, mortgage insurance is a share of the loan, charged only while the loan is above the cut-off against the value of the home. Above it, the premium is the rate in the assumptions applied to the loan. On a real loan the program decides whether and for how long it is charged, and the insurer sets the premium, so treat this one as a placeholder until a lender quotes it.
Everything is computed in full precision and rounded only when it is printed.
Starting assumptions
The payment and affordability calculators open on general starting figures rather than an empty form. Each one is labelled as an assumption, and you can change every one of them.
- Property taxes follow California's capped base rate plus the local bonds and assessments for the tax rate area a house sits in.
- Homeowners insurance goes in as an annual figure. A real premium depends on the house and the insurer, so use your own quote if you have one.
- In these calculators, mortgage insurance is charged only while the loan is large against the home's value. On a real loan the program decides whether and for how long it is charged, and the insurer, not us, sets the premium.
- HOA dues start at nothing. Put in the dues if the home belongs to an association.
- The debt-to-income ceiling is a starting assumption, not the limit on your file. Each program and lender sets its own.
- The loan term is a selector, because the length you pay over is your assumption and not something we advertise.
These are estimates from the figures you entered, not a quote, an offer, or a commitment to lend.
Pick the question you are trying to answer
- Affordability
What your income carries once your debts, the taxes and the insurance come out of it.
- Refinance break-even
The month the closing costs are paid back, and what the new loan costs over its life.
- Amortization schedule
Every payment, split into interest and principal, year by year.
A quote needs your file
Send us what you are working with, and your loan officer can price it against the lenders on our panel.
No credit pull to get started. This is not a commitment to lend. Equal Housing Opportunity.