Principal & interest
$2,769.52
Get the full monthly cost of a mortgage — principal, interest, property tax, homeowners insurance and HOA dues — not just the principal-and-interest payment the search engines quote by default.
The principal-and-interest payment is computed from the loan. Property tax, insurance and HOA are your own figures; the schedule above shows principal and interest only, because the other components do not amortize.
| Month | P&I payment | To principal | To interest | Balance |
|---|---|---|---|---|
| 1 | $2,769.52 | $302.85 | $2,466.67 | $399,697 |
| 2 | $2,769.52 | $304.72 | $2,464.80 | $399,392 |
| 3 | $2,769.52 | $306.60 | $2,462.92 | $399,086 |
| 4 | $2,769.52 | $308.49 | $2,461.03 | $398,777 |
| 5 | $2,769.52 | $310.39 | $2,459.13 | $398,467 |
| 6 | $2,769.52 | $312.31 | $2,457.21 | $398,155 |
| 7 | $2,769.52 | $314.23 | $2,455.29 | $397,840 |
| 8 | $2,769.52 | $316.17 | $2,453.35 | $397,524 |
| 9 | $2,769.52 | $318.12 | $2,451.40 | $397,206 |
| 10 | $2,769.52 | $320.08 | $2,449.44 | $396,886 |
| 11 | $2,769.52 | $322.06 | $2,447.46 | $396,564 |
| 12 | $2,769.52 | $324.04 | $2,445.48 | $396,240 |
The principal-and-interest payment comes from the standard amortizing-loan formula, with interest accruing on the outstanding balance each month and the payment set so the balance reaches exactly zero at the end of the term. On the defaults — a $400,000 loan at 7.40% over 30 years — that payment is $2,769.52.
The true monthly payment adds the three components a lender collects alongside the loan: property tax, homeowners insurance and, where applicable, HOA dues. Those are not part of the loan math, so they are entered separately and editable. On the defaults with $450 of tax and $120 of insurance, the real monthly outflow is $3,339.52, not $2,769.52.
L — the loan amount borrowedr — monthly interest rate, the annual rate divided by 12n — number of monthly payments, term in years multiplied by 12The mortgage calculator built into the search results returns principal and interest only. It does not include property tax, insurance, mortgage insurance or HOA — the items that are usually bundled into the same monthly payment and held in escrow. For a typical buyer that omission is large: on the defaults the real payment is $3,339.52 against $2,769.52 for principal and interest alone, about 21% higher.
That gap is exactly why a house can feel affordable on the search result and unaffordable on the closing disclosure. The two numbers answer different questions — one is what the loan costs, the other is what leaves your account — and only the second one tells you whether you can actually carry the house.
This page returns the second number. It is the same loan math, plus your own tax, insurance and HOA, in one figure you can hand to a budget.
| Component | Set by | In the loan payment |
|---|---|---|
| Principal | Loan amount and schedule | Yes |
| Interest | Rate and outstanding balance | Yes |
| Property tax | Local assessed value and millage rate | No — you enter it |
| Homeowners insurance | Coverage level and insurer | No — you enter it |
| HOA or condo dues | The association's own schedule | No — you enter it |
Two of those deserve a warning rather than a mention. Property tax is reassessed, and in many jurisdictions it is reassessed upward after a sale, so a first-year estimate can understate every year that follows. Mortgage insurance, where it applies, is usually the largest single addition after tax and it disappears only when the loan-to-value ratio falls enough.
Everything on this page is reproducible. For the default loan, the monthly rate is 7.40 ÷ 100 ÷ 12, or 0.00616667, and the number of payments is 30 × 12 = 360.
Add the $450 tax and $120 insurance you entered and the true monthly payment is 2,769.52 + 450 + 120 = 3,339.52. Change any input and the figure recomputes; if your own arithmetic differs by more than a few cents, one of the two implementations is wrong and the corrections page explains how to report it.
No. The calculator shown in search results returns principal and interest only. This page adds your property tax, homeowners insurance and HOA dues so the headline figure is the amount that actually leaves your account.
PITI is principal, interest, taxes and insurance — the four components most lenders collect together through escrow. HOA dues are a fifth component where they apply. This calculator returns all of them summed into one monthly figure.
Because most calculators, including the one in search results, show principal and interest only. Property tax, insurance and HOA are billed separately and frequently omitted, which is why the same house can look affordable in search and unaffordable on the closing disclosure. On typical defaults the difference is about 21%.
Yes. They are set by your local jurisdiction and insurer, not by the loan, so this page asks you to enter them rather than guessing. Pull the tax from your local assessor and the insurance from a quote; once entered they stay editable so you can test scenarios.
True Monthly Mortgage Payment (Principal, Interest, Tax, Insurance, HOA) lists each external figure it uses once, with the publisher that issues it and the date it was retrieved. The calculator takes these as its defaults, so any of them can be replaced with a number of your own; a figure that is not in the list is one this page did not take from anywhere.
| Figure | Value | Published by | Retrieved |
|---|---|---|---|
| 30-year fixed mortgage national average | 7.40% | Freddie Mac Primary Mortgage Market Survey (PMMS) | 2026-10-08 |
Values are the ones this page is built with, not a live feed. Where a figure is revised on a schedule, the retrieval date above is when it was read, and the next scheduled refresh is shown at the top of the page.
Related calculatorsMortgage payment calculator (principal & interest) · How much house can I afford · Extra payment calculator · PMI removal date calculator · Refinance break-even · Biweekly payment calculator · FHA loan cost calculator · Closing cost calculator · Affordability (PITI) · FHA monthly payment (with MIP) · FHA affordability (with MIP)
Cluster us/mortgage · Unit us-mortgage-true-monthly-payment · Engine amortizing-loan / payment · Method: Principal and interest use the standard amortizing-loan formula M = L × r / (1 − (1 + r)^−n) with interest accrued monthly on the outstanding balance. The true monthly payment is that figure plus the borrower's own monthly property tax, homeowners insurance and HOA dues; those three are entered by the borrower because they are set by the local jurisdiction and the insurer, not by the loan.