Jack Gladden
Specialty Mortgage Financing
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Mortgage calculator

Mortgage payment calculator

See the full monthly payment, not just principal and interest: taxes, insurance, HOA dues and mortgage insurance included.

Your numbers

Enter your own numbers, including the interest rate you were quoted. Nothing you type leaves this page.

Rates filled in from Freddie Mac’s Primary Mortgage Market Survey® 30-year average of 7.40% for the week of October 8, 2026: national averages, not a quote. Enter the rate you were quoted. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

Loan term
Where is the home? (optional)
Choose a county to fill in its typical property tax and the state’s average insurance rate, as percentages you can still change.
State averages run from about 0.3% to 1.9% of value a year: about 0.5% in Arizona, 0.8% in Florida and 1.4% in Ohio. Buying can reset the tax higher; in California it starts at about 1% of the price plus local charges.
Average premiums run about 0.2% to 0.75% of a home’s value a year: about 0.2% in California, 0.3% in Arizona, 0.5% in Ohio and 0.75% in Florida. They have risen since these 2022 figures and run higher with wildfire, wind or flood risk, so use a quote.
Usually needed on a conventional loan with less than 20% down, and on every FHA loan. FHA’s annual premium is 0.50% to 0.55% of the loan on most loans; conventional PMI depends on credit and loan-to-value, so use your quote.
Payment schedule
Every two weeks: half the monthly payment, 26 times a year, which adds one extra payment each year.
–Enter the price, down payment and your interest rate to see the payment.

An estimate only, not a loan offer. Your Loan Estimate from the lender is the figure to rely on.

How it works

Payment = principal and interest + taxes + insurance + HOA + mortgage insurance

Principal and interest uses the standard amortization formula on the loan amount (price minus down payment). Taxes and insurance are your yearly figures divided by 12. Mortgage insurance is the yearly percentage you enter times the loan amount, divided by 12. The year-by-year schedule shows how each year’s payments split between interest and principal, and the balance left.

Keep in mind

  • FHA loans charge an upfront and an annual mortgage insurance premium; VA loans have no monthly mortgage insurance but usually a one-time funding fee. Enter the annual rate that applies to your loan.
  • Lenders also escrow taxes and insurance and may round differently, so your Loan Estimate is the figure to rely on.

Questions

What is the monthly payment on a $400,000 mortgage?

It depends on the rate and the term, so no single figure is right for everyone. At any one rate, principal and interest scale with the loan: a $400,000 loan costs twice what a $200,000 loan does. Enter your rate above and open “Principal and interest at other loan amounts” to see every amount from $100,000 to $1,000,000 side by side. Taxes, insurance, dues and any mortgage insurance come on top. See also: Loan term comparison calculator.

What is included in a mortgage payment?

Principal and interest on the loan, plus property taxes, homeowners insurance, any HOA dues and, if you put down less than 20% on a conventional loan or use FHA, mortgage insurance. Lenders often collect taxes and insurance monthly in an escrow account.

Why is the payment higher than an online quote?

Many quotes show principal and interest only. Taxes, insurance, HOA dues and mortgage insurance can add a large share to the monthly cost, especially in high-tax areas.

How much do extra payments save?

Every extra dollar goes straight to principal, so it stops costing interest from that month on. Enter an extra monthly amount above to see the payoff date and the interest saved on your own loan.

Do biweekly payments pay off a mortgage faster?

Yes. Paying half the monthly payment every two weeks makes 26 half payments a year, the same as 13 monthly payments, and the extra goes to principal. Choose every two weeks above to see the payoff date.

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Want a real number?

This mortgage payment calculator gives you a good estimate. Jack can run your actual scenario against current lender guidelines and show you the options, free.

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Jack Gladden
Jack GladdenSenior Loan Officer · NMLS #1470164
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