What is Mortgage?
The US Mortgage Calculator estimates your total monthly housing payment including principal, interest, PMI, property taxes, and homeowners insurance. Most US mortgages are 30-year fixed-rate loans. A 20% down payment avoids PMI (Private Mortgage Insurance).
Formula
Monthly P&I = L × r × (1+r)^n / ((1+r)^n − 1) PMI ≈ 0.5-1% of loan annually (if down payment < 20%) Property Tax varies by state (0.3% to 2.5%) Insurance avg: $1,500-$2,500/year Total Monthly = P&I + PMI + Tax/12 + Insurance/12
How to use this US Mortgage Calculator?
1. Enter home purchase price. 2. Set down payment percentage (20% avoids PMI). 3. Enter interest rate and choose term. 4. Add property tax and insurance estimates.