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The monthly payment on a home loan with taxes, insurance, mortgage insurance and dues included, and what a different rate or extra principal would do.

Estimated monthly payment$0.00
The loan
Taxes, insurance and dues

PMI is added only when the down payment is under 20% of the price. 0.50% is an illustration; the real figure depends on credit score and down payment, so replace it with your lender's quote. For FHA, VA or USDA loans use the buyer closing costs tool, which applies those programs' fees. Virginia county and city tax rates are on the tax rates page.

Extra payments (optional)
Amortization schedule for this loan Buyer closing costs for this purchase Virginia tax rates Seller net sheet

How this payment is figured

Principal and interest use the level-payment formula P · r / (1 − (1 + r)−n), with r the annual rate divided by 12 and n the number of monthly payments. Property tax and insurance are the yearly amounts divided by 12. PMI is the loan times the yearly percentage divided by 12, and only while the loan is above 80% of the price. Extra principal lowers the balance each month, so the loan ends sooner and the lifetime interest is smaller; the payment itself does not change.