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Payment Calculator

Mortgage payment calculator.

A quick estimate of your monthly payment — principal, interest, property tax, homeowners insurance, and PMI when it applies. Adjust any field to see it update.

Loan details

Adjust any field. Results update as you type.

20.0%

For illustration; actual rate varies.

Texas average is ~2.2%.

What’s included in the estimate

  • Principal & interest: the portion of your payment that pays down the loan and covers the cost of borrowing.
  • Property tax: an annual rate applied to the home’s price, divided monthly. The Texas average is roughly 2.2%.
  • Homeowners insurance: an annual premium, divided monthly. The actual premium depends on location, construction, and coverage.
  • Mortgage insurance (PMI / MIP): the calculator uses a mid-range default rate that you can override with your actual quoted rate. Real mortgage insurance is shopped across multiple providers (MGIC, Radian, Essent, Arch, Enact, National MI) and varies by credit score, LTV, DTI, and coverage — a single illustrative rate is just a starting point, not a real quote.
    • Conventional (PMI): applies only when the down payment is less than 20%. Typical range is roughly 0.25%–2.25% per year of the loan balance.
    • FHA (MIP): applies on every FHA loan regardless of down payment. The calculator uses 0.55% per year as a default (common on 30-year FHA purchases post-2023). FHA loans also carry a 1.75% upfront MIP that is financed into the loan balance.

Estimate only — not a loan offer. This calculator is provided for educational and planning purposes. It does not represent a pre-approval, rate lock, or commitment to lend. Your actual rate, payment, and loan terms will depend on your credit, income, the property, your down payment, and the loan program you qualify for. For a personalized estimate, contact Ryan Jones.