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3 minEstimate principal, interest, taxes, insurance and PMI for a US home loan.
$2,825/ month
Principal and interest are $2,275. The rest covers taxes, insurance.
Your loan-to-value ratio is 80%.
At 80% or below, lenders typically waive private mortgage insurance.
Monthly cost (all-in)
$2,825/ month
- Principal & interest$2,27581%
- Property tax$40014%
- Home insurance$1505%
Interest vs. principal
- Total interest$459,16056%
- Total principal$360,00044%
Total cost over 30 years
$1,017,160
- Principal$360,00035%
- Interest$459,16045%
- Taxes, insurance and PMI$198,00019%
Loan balance over time
Keep going
$2,825 a month, and the escrow portion will not sit still.
Taxes and insurance get re-escrowed every year, so a fixed-rate payment still moves. Fino tracks the real number each month and tells you when it changes.
- Principal, interest, taxes and insurance tracked separately
- Equity and net worth updated as the balance falls
- Every housing cost in one place, across as many accounts as you use
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Estimates are based on the information and assumptions you provide and are for educational purposes only. This is not financial, tax, legal or lending advice.
What this means
- A larger down payment reduces your monthly payment and may eliminate PMI.
Assumptions & methodology
- Interest is fixed for the chosen term.
- Taxes, insurance and PMI are estimates and may change.
- Payments are made monthly and on schedule.
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Common questions
What people ask most about the US Mortgage Calculator.
What does PITI mean?
Principal, interest, taxes and insurance — the four parts of a typical US monthly housing payment. Lenders usually collect the tax and insurance portions into an escrow account and pay those bills on your behalf, which is why your payment can change year to year even on a fixed-rate loan.
What is PMI and when does it stop?
Private mortgage insurance is normally required on conventional loans when your down payment is under 20%. Under the Homeowners Protection Act, a lender must automatically cancel it once the loan reaches 78% of the original value, and you can generally request cancellation at 80%. It protects the lender against default, not you.
How does a US mortgage differ from a Canadian one?
Two structural differences matter. US mortgages compound monthly and are commonly fixed for the entire 30-year term, so the rate you sign is the rate you keep. Canadian mortgages compound semi-annually and fix the rate only for a term of a few years, after which you renew at market rates.
Should I take a 15-year or a 30-year mortgage?
A 15-year loan carries a lower rate and dramatically less total interest, but a much higher required payment that you are contractually locked into. Taking the 30-year and voluntarily paying it down faster gets you most of the interest saving while keeping the lower payment as a fallback if your income changes.