Calculate your TRUE monthly payment with all costs included
Enter your home purchase details to see your TRUE monthly costs
Annual property tax amount
Annual insurance premium
Most mortgage calculators only show you principal and interest payments, giving you a false sense of what homeownership actually costs. Our comprehensive calculator includes ALL the costs you'll face as a homeowner.
If you put down less than 20%, you'll pay Private Mortgage Insurance (PMI). This can add $200-$500+ to your monthly payment, but most calculators either ignore it or underestimate it. Our calculator uses current PMI rates to give you accurate numbers.
Property taxes vary dramatically by location and can be reassessed after purchase. We use realistic estimates based on current tax rates, not the outdated numbers many calculators default to.
Financial experts recommend budgeting 1-3% of your home's value annually for maintenance. On a $400,000 home, that's $4,000-$12,000 per year or $333-$1,000 per month. Most people never factor this in until they're hit with a $10,000 roof repair. Learn more about complete homeownership cost planning.
Lenders typically want your housing costs (including ALL the costs above) to be no more than 28% of your gross monthly income. Use our calculator to see if you meet this guideline with REAL numbers, not just principal and interest. Also consider how this fits into your retirement planning.
A: Because we include the real costs of homeownership that other calculators ignore. This gives you a realistic picture of what you'll actually pay each month.
A: Absolutely. Homes require constant upkeep. Without a maintenance budget, you'll be caught off-guard by inevitable repairs and replacements.
A: Our estimates are based on current market data and industry standards. Your actual costs may vary based on your specific location, home condition, and lifestyle.
A: Yes, PMI can typically be removed once you reach 20% equity in your home through payments or appreciation. Some loans automatically remove it at 22% equity.