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# Monthly Mortgage Payment Calculator with Taxes and Insurance

Monthly mortgage payment calculator with Taxes and Insurance used to calculate a monthly mortgage payment that includes taxes and insurance. To calculate with this you will need to know the following information:

• The loan amount (the total amount you are borrowing)
• The interest rate on the loan
• The term of the loan (how many years you will be paying the mortgage)
• The property taxes (this can vary depending on the location and value of the property)
• The homeowner’s insurance (this can also vary depending on the location and value of the property)

Once you have all of this information, you can use an online mortgage calculator or use the following formula to calculate your monthly mortgage payment:

M = P[r(1+r)^n]/[(1+r)^n-1]

Where:

• M = monthly mortgage payment
• P = the principal loan amount
• r = the monthly interest rate
• n = the total number of payments

Note: the annual interest rate divided by 12 and also the number of years of the loan multiplied by 12.

You’ll need to add the monthly property tax and insurance to the monthly mortgage payment to have a complete monthly payment.

Please note that this is a simplified version of the formula, and other factors like PMI (private mortgage insurance) may also need to be taken into account. It is always best to consult a financial advisor or mortgage professional for a more accurate estimate.

## Use of Calculator

When calculating a new mortgage where you know approximately your annual taxes and insurance, this calculator will show you a monthly breakdown and total, then you can calculate your total monthly mortgage payment. That’s a good guess; when keeping taxes and insurance on an escrow account, the payment charged by your financial institution may be different.

But if you want a simple calculation without insurance and taxes, then use this mortgage calculator without taxes and insurance.

### The Amount of the Mortgage

the original principal amount of your mortgage when calculating a new mortgage or the current principal amount owed when calculating an existing mortgage.

### Mortgage Term

The mortgage is the original term of the mortgage or the time remaining until the calculation of the current mortgage.

### Interest Rate

The annual nominal interest rate or the stated loan rate. Note that this is the interest rate you are charged, which is different and usually lower than the annual percentage rate (APR).

### Taxes

If your financial institution will maintain an escrow account, bill you, and process property tax payments, enter that annual amount here.

### Insurance

If your financial institution will maintain an escrow account, bill you, and handle payments for your property insurance, enter that annual amount here.

### Monthly Payment

The payment amount to be paid monthly for this mortgage is for principal and interest, taxes, and insurance.