Mortgage Payment Calculator
How much will your house payment be each month? Put in the price and your down payment. We add the loan, taxes, insurance, PMI, and HOA for you. The rate starts at the latest U.S. average, and you can change it.
Your home and loan
Starting rate: 7.24% for a 30-year fixed loan (6.60% for 15-year). This is the U.S. average from Freddie Mac's Primary Mortgage Market Survey, as of October 29, 2026. It is not a rate quote from Mark or Heathrow Mortgage. Type in your own rate.
Want your real rate?
The average is only a starting point. Mark can price your loan based on your credit, down payment, and home.
How the math works
Your loan is the home price minus your down payment. We use the normal fixed-rate loan formula to find principal and interest. Yearly taxes and insurance are divided by 12. PMI only shows up if you put less than 20% down, and it is a yearly percent of the loan divided by 12.
Real PMI depends on your credit and down payment. FHA and VA loans use their own fees instead. HOA dues are added as you enter them.
About the starting rate
Each week, Freddie Mac posts the average U.S. rate in its Primary Mortgage Market Survey (PMMS). We start with that number so you have a fair place to begin. It is not a quote for you.
A worked example
Say you buy a $400,000 home and put 10% down. Your loan is $360,000. At 7.24% for 30 years, principal and interest is $2,453.39 a month. Add taxes of $3,000 a year ($250 a month), insurance of $1,800 a year ($150 a month), and PMI at 0.5% ($150 a month). That is about $3,003.39 a month in all.
Common questions
What makes up a house payment?
Usually four parts: principal (the loan), interest, property taxes, and home insurance. Some homes add PMI and HOA dues too. People call it PITI.
Will I get the rate shown here?
Probably not exactly. It is a U.S. average from Freddie Mac for the date shown. Your rate depends on your credit, down payment, and loan type. Call Mark to get your real rate.
When do I have to pay PMI?
On most conventional loans, you pay PMI if you put less than 20% down. You can often drop it later once you own more of your home.
How can I make my payment smaller?
Put more money down, get a lower rate, pick a lower price, or put 20% down to skip PMI. A 30-year loan has a smaller payment than a 15-year loan, but costs more interest over time.
How often does the average rate change?
Freddie Mac shares a new average every Thursday. We update this page and show the date.
Estimates only. Not a loan offer. These numbers come from simple math and what you type in. They are not a pre-approval, a rate quote, or a promise to lend. Your real rate, payment, and costs depend on your credit, income, home, loan type, and more. Not everyone will qualify. The starting rate is a Freddie Mac national average, not a rate offered by Mark Jost or Heathrow Mortgage. Mark Jost, Mortgage Loan Originator, NMLS #150914. Heathrow Mortgage, Company NMLS #1849599. Equal Housing Opportunity.