Mortgage Payment Calculator

Educational estimate only. This calculator uses standard formulas and the figures you enter. It is not a loan offer, a guarantee of terms, an appraisal, or tax advice. Property tax rates vary substantially by municipality and school district in Montgomery and Chester County. Confirm every number with your lender, title company, and tax professional before making a decision.

Why the quoted number is never the real number

When a lender quotes you a payment, they are usually quoting principal and interest. That is typically 60 to 75 percent of what actually leaves your account each month. Property taxes, homeowners insurance, mortgage insurance if you are under 20 percent down, and any HOA fee make up the rest — and in Montgomery and Chester County, the tax portion is large enough to change which houses you can consider.

This calculator includes all of it. Enter the actual annual tax figure for a specific property rather than an estimate; the county assessment records and the listing itself will both show it, and I can pull the real number for any address you are considering.

Notes on using this

• PMI is applied automatically when your loan-to-value exceeds 80 percent, using the rate you enter. Conventional PMI can typically be removed once you reach sufficient equity; FHA mortgage insurance generally does not work that way.
• Property taxes here are billed by both the school district and the municipality, and the combined effective rate commonly lands between roughly 1.2 and 2.2 percent of assessed value depending on where you are. Use the property's actual figure.
• This does not include maintenance, utilities, or capital reserves. Budget separately — a reasonable rule of thumb is 1 percent of the home's value per year for upkeep.
• Escrow requirements vary by lender and loan type. Some borrowers pay taxes and insurance directly rather than through escrow.