Mortgage Calculator
See a monthly payment with tax, insurance, HOA and mortgage insurance, then compare loans side by side.
Estimated monthly payment
| Item | Monthly | Share |
|---|---|---|
| Principal & interest | $12,510 | 80% |
| Property tax | $2,604 | 16% |
| Home insurance | $583 | 4% |
| HOA dues | $0 | 0% |
| Total | $15,697 | 100% |
- Home price
- $2,500,000
- Down payment
- $500,000 (20%)
- Rate and term
- 6.4%, 30-year fixed
- Property tax
- 1.25% a year
- Insurance
- $7,000 a year
- HOA
- $0 a month
An indicative monthly figure for planning. Not a lender quote and not an offer of credit. Sidney Manzo, CA DRE #01108914, licensed in California.
RE/MAX Dream Properties (ASLG Inc), CA DRE #02142193
How this works
The formula in plain words
Loan amount is the price minus the down payment. Principal and interest is the payment that pays that loan off in equal monthly amounts over the term at the rate you enter.
Property tax is the price times the annual rate, divided by 12. Insurance is the yearly figure divided by 12; it starts at 0.28% of the price until you enter a quote. HOA dues are added as entered. Mortgage insurance appears only when the down payment is under 20%, and it stays blank until you enter the rate your lender gives you.
LA County rates are 1% plus local voter-approved charges and vary by area; special assessments and Mello-Roos can add more. Look up your area's rate with the LA County Auditor-Controller.
Questions
How this estimate works
What does the monthly estimate include?
Principal and interest on the loan, property tax at the rate you enter, home insurance, HOA dues, and mortgage insurance when the down payment is under 20% and you enter a rate. It leaves out utilities, upkeep and closing costs.
How is property tax estimated?
The price times the annual tax rate you enter, divided by 12. The example rate is 1.25%. LA County rates are 1% plus local voter-approved charges and vary by area; special assessments and Mello-Roos can add more. Look up your area's rate with the LA County Auditor-Controller.
How is principal and interest worked out?
The loan is the price minus the down payment. The monthly rate is the annual rate divided by 12, and the loan is paid in equal monthly payments over the term, so early payments are mostly interest and later ones mostly principal.
Why can a lender's figure differ?
A lender prices your loan from your credit, the loan type, points, fees and the day the rate is locked, and uses its own tax and insurance figures. Use this estimate to plan and the lender's quote to decide.