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Dollar amount. PMI applies when under 20% of home price.
PMI is estimated at 0.5% of the loan amount per year when your down payment is below 20% of the purchase price.
Total monthly payment
$2,576
Amortization summary: fixed rate; effective rate equals your quoted rate. Taxes, insurance, PMI, and HOA are shown separately from P&I.
This tool provides estimates only and is not a mortgage offer. Actual rates, PMI rules, escrow, and fees vary by lender and state. Cashsembly is not a lender.
Your monthly payment depends on the loan amount, interest rate, and loan term. Use the formula M = P[r(1+r)^n]/[(1+r)^n-1]. Our calculator also adds property tax, insurance, PMI, and HOA to show your true monthly cost.
PMI (Private Mortgage Insurance) is required when your down payment is less than 20% of the home price. It typically costs 0.5%–1% of the loan amount annually and can be removed once you reach 20% equity.
Mortgage rates vary by lender, credit score, and loan type. As of 2026, 30-year fixed rates have ranged between 6%–7.5%. Use our calculator to see how different rates affect your monthly payment.
A common guideline is the 28/36 rule: your mortgage payment should not exceed 28% of your gross monthly income, and total debt payments should not exceed 36%. Lenders also consider your credit score, down payment, and debt-to-income ratio.
An amortization schedule shows how each monthly payment is split between principal and interest over the life of the loan. Early payments are mostly interest; later payments shift toward principal.