Mortgage Calculator With Taxes
Calculate your monthly mortgage payment including property taxes and insurance. Enter loan amount, interest rate, loan term, annual taxes, and insurance to see a detailed breakdown.
Published by:
isCalculator Editorial Team
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How to use this tool?
How to Use the Mortgage Calculator with Taxes
- Enter Loan Amount ($): Input the total amount you plan to borrow (e.g., 300000). Must be greater than 0.
- Enter Annual Interest Rate (%): Input the yearly interest rate as a percentage (e.g., 4.5). Can be 0.
- Enter Loan Term (years): Input the number of years to repay (e.g., 30). Must be between 1 and 50.
- Enter Annual Property Tax ($): Input the yearly property tax amount (e.g., 3600). Can be 0.
- Enter Annual Insurance ($): Input the yearly insurance cost (e.g., 1200). Can be 0.
- Click "Calculate": Press the button to see your monthly payment breakdown.
Outputs:
- Principal & Interest: Monthly payment toward the loan itself.
- Property Tax: Monthly portion of annual tax.
- Insurance: Monthly portion of annual insurance.
- Total Monthly Payment: Sum of all three components.
Note: All inputs must be positive numbers (or zero for rate, tax, and insurance). The calculator uses the standard amortization formula and divides annual tax/insurance by 12.
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Frequently Asked Questions
It calculates your total monthly mortgage payment including principal, interest, property taxes, and insurance.
The monthly payment is the sum of principal and interest (using the amortization formula), plus monthly property tax and insurance.
Yes, as long as you input the correct loan amount, interest rate, term, taxes, and insurance, it works for fixed-rate mortgages.
