The Cost Desk

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Monthly mortgage payment, with tax and insurance

Find the full monthly bill for a house, not just the loan payment: taxes, insurance, association dues and PMI all counted.

Data last checked . Every source is listed below.

A percent of the price. Below 20%, expect private mortgage insurance on a conventional loan.

An example, not a quote. Enter an offered rate to see its effect.

Loan length

Sets the property tax. We use the state average.

More options

A yearly percent of the loan. Lenders usually add it when you put down under a fifth.

What owning it costs each month

$2,224 of that repays the loan and $735 covers tax, insurance and fees.

Where it goes

  • Principal and interest$2,22475%
  • Property tax (Ohio average)$43215%
  • Homeowners insurance$1385%
  • Mortgage insurance (PMI)$1666%
Loan amount
$361,250
Cash down
$63,750
Interest over the whole loan
$439,490if you keep the loan to the end
Mortgage insurance ends
year 6, month 12the bill then drops to $2,794
Principal beats interest
year 19, month 12from here most of each payment cuts the loan

With 20% down ($85,000) there is no PMI and the monthly bill would be $2,663, which is $296 less.

What you still owe, and the interest you have paid
$0$200k$400k$600k051015202530Years into a 30-year loanPMI endsPrincipal beats interest
Still owedInterest paid so far

For information only: not advice, a recommendation or an offer. We take care, but our sources can lag and so can we, so a figure may be out of date. Official figures come from lenders, plans, the IRS or Social Security.

What moves the number

The few things that change the answer the most, in plain terms.

Rate
Even a quarter-point difference in the rate shows up in your bill every month until the loan is gone, so the rate has a lasting effect.
Down payment
Under 20% down you usually pay private mortgage insurance until you build equity. More down also means a smaller loan.
Where you buy
Property tax swings with the state and even the school district. Two identical houses can differ by hundreds a month.
Loan length
A shorter loan costs more each month but far less in total interest.
Insurance and dues
Insurance varies by region and by the age and roof of the house. HOA dues are fixed by the association, not by the lender.

The working

Step by step, with the numbers from the starting example, so you can check it on paper.

  1. The loan is the price minus what you put down: $425,000 less 15% ($63,750) leaves $361,250.
  2. The loan payment uses the standard amortization formula at 6.25% a year over 360 monthly payments, which comes to $2,224.
  3. Property tax is the Ohio average rate of 1.22% of the price, spread over 12 months: $432.
  4. Insurance of $1,650 a year is $138 a month.
  5. Because you put down under 20%, mortgage insurance of 0.55% of the loan a year adds $166 a month until your balance falls to 78% of the original price.
  6. Added together, the first month costs $2,959.

Try a different case

Each opens the calculator with the numbers filled in.

What we assumed

Where a number is an example, we say so.

  • Our estimateThe interest rate in the example is not a quote. Your lender sets your rate from your credit, loan type and the market that day.
  • Checked sourceProperty tax is each state's average: the median tax paid divided by the median home value, from the Census Bureau's American Community Survey (2025). Your county and school district can be higher or lower, and a home bought today may be assessed above the median owner's older value.
  • Our estimateHomeowners insurance of $1,650 a year is an example. Quotes vary widely by state, home age and coverage.
  • Our estimatePMI of 0.55% of the loan a year is an example in the usual range for a conventional loan; your rate depends on your credit score and down payment.
  • Published, secondhandUnder the Homeowners Protection Act a borrower may request that the servicer end PMI when the balance reaches 80% of the original value, and it must end automatically at 78% (or at the loan midpoint). We end it at 78%.
  • Our estimateTax, insurance and HOA dues are held flat at today's amounts. In real life they usually rise.
  • Our estimateClosing costs, moving costs, maintenance and an escrow cushion are not included.

Sources

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