True Monthly Mortgage Cost
See your real monthly payment including PITI (Principal, Interest, Taxes, Insurance), HOA fees, and PMI. Most calculators only show principal and interest—we show you the full picture.
Last updated October 18, 2026
How our math works
- 30-year fixed-rate loan at 6.75% interest, fully amortizing
- Taxes, insurance, HOA, and PMI as entered — actual costs vary by property and insurer
- Rates shown are interest rates used for estimation only — not APRs and not offers. APR reflects fees and other loan costs and may differ from the interest rate shown.
My scenario
Enter income, debts, price, and rate once. Every calculator pre-fills.
Location
Optional — refines the state estimate
Home & Loan
$
Down Payment
%
Additional Costs
$
Typically 1-2% of home value per year
$
$
Your True Monthly Payment
$2,935
That's $600 more than just P&I
$360,000
20%
$90,000$480,583
Over 30 years$1,056,583
All payments combinedMonthly Payment Breakdown
Where your money goes each month
$2,935 per month: Principal & Interest $2,335, Property Tax $450, Home Insurance $150.
Principal & Interest
$2,335
Property Tax
$450
Home Insurance
$150
P&I Only (what most show)
$2,335
True Total (what you pay)
$2,935
Hidden costs
+$600/mo
Loan Balance Over Time
Watch your mortgage shrink as you make payments
Loan balance starts at $360,000 and falls to $4 by year 30.
$337,953
remaining$307,084
remaining$263,864
remainingFirst Year Cost Breakdown
Where your money goes in year one
Annual Housing Cost
$35,219
Interest (Year 1)
$24,183
Principal (Year 1)
$3,837
Property Taxes
$5,400
Insurance
$1,800
Lifetime Cost Analysis
The true cost of your mortgage over 30 years
$360,000
Your original loan amount
$480,583
133% of loan amount
$1,056,583
Principal + Interest + Taxes + Insurance over 30 years
Key Insights
What these numbers mean for you
Interest Impact
Over 30 years, you'll pay $480,583 in interest - that's 133% of your loan amount.
Interest Impact
Principal & interest is only 80% of your true monthly cost. The rest is taxes, insurance, and fees.
The Bottom Line
Your true monthly housing cost is $2,935, not the $2,335 that most calculators show. Over 30 years, you'll pay a total of $1,056,583 — that's $480,583 in interest alone.
Here are the exact formulas behind your numbers. No black boxes — just math.
Monthly Principal & Interest
Monthly Rate (r)
Number of Payments (n)
Monthly P&I
Total Monthly Payment (PITI)
Property Tax
Home Insurance
PMI (if applicable)
Total PITI
Related Calculators
Related Guides
Embed this calculator — free, forever
Realtors, brokers, lenders, and bloggers: add True Monthly Mortgage Cost to your own site. No signup, no API key, no tracking of your visitors' numbers.
Frequently Asked Questions
A full monthly payment includes principal and interest (the loan itself), property taxes, homeowners insurance, PMI if your down payment is under 20%, and HOA dues if applicable. Together these are often called PITI. Lenders typically collect taxes and insurance through an escrow account.
Rate quotes usually show only principal and interest. Property taxes (often 1-2% of home value per year), homeowners insurance, PMI, and HOA fees can add 30-50% on top. This calculator shows the full payment so you can budget on the true number.
Early in a 30-year loan, most of each payment is interest. For example, at 6.75% on a $360,000 loan, roughly 87% of your first payment is interest. The split shifts toward principal over time — the amortization chart on this page shows exactly how.