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National average mortgage payment

Mortgage Payment Calculator

Monthly principal and interest from the home price, down payment, term, and the most recent Freddie Mac national average rate. You can type a quote instead.

Your numbers

Monthly mortgage payment

Starts from the dated Freddie Mac national average below. Type your own quote if you have one.
FREDDIE MAC PMMS

30-year 6.71% · 15-year 6.04%National weekly average · survey week of Sep 3, 2026 · A newer release is expected. Check Freddie Mac for the latest week before relying on it.

$
$
%National weekly average. Type a quote to replace it.
Taxes, insurance and HOA

Leave these at zero for principal and interest only. Filling them in gives the payment a lender will actually quote.

$Optional
$Enter an annual quote or planning estimate
$Optional

Need an insurance budget? Use the Insurance Cost Calculator, then enter its annual homeowners estimate above. A carrier quote is more specific to your home.

Estimated monthly payment

$2,067.01Principal and interest
Principal and interest$2,067.0130-year fixed
Loan amount$320,00020% down
Total interest$424,125Over 360 payments
How we got this
  1. Loan amount$400,000.00 home − $80,000.00 down$320,000.00
  2. Monthly principal and interest30-year fixed at 6.71%$2,067.01
  3. Estimated monthly totalPrincipal and interest only$2,067.01
What we assumed
  • This is a fixed-rate amortizing loan estimate, not a lender quote or an offer to lend.
  • The default interest rate is a national weekly average. Local quotes, credit, points, and fees differ.
  • Taxes, insurance, and HOA dues are only the amounts you type. They are not looked up by ZIP or county.
  • PMI is omitted. Typical conventional loans require it when the down payment is under 20%.
  • Closing costs, discount points, and extra principal payments are left out.
Technical details

Method mortgage-amortization-v1.0.0Data freddie-mac-pmms-2026-09-03-v1

Guide

How this U.S. mortgage payment is calculated

CostAnswer editorialIndependent calculator publisher

The headline is principal and interest on the loan amount, using a fixed-rate formula and either the latest Freddie Mac national average or a rate you type. Property tax, insurance, HOA, and PMI are only what you add. This is not a lender quote.

Loan amount and the payment formula

Home price minus down payment is the amount amortized. The monthly principal-and-interest payment is the standard fixed-rate formula. A 0% rate splits the balance evenly across the months. A 30-year term is 360 payments; a 15-year term is 180.

The default rate is the Freddie Mac Primary Mortgage Market Survey weekly national average stored on this site, not the rate a lender will offer in your ZIP. Credit, points, occupancy, and property type all move a real quote.

Escrow items you type yourself

Property tax, homeowners insurance, and HOA dues are optional monthly amounts. They are not looked up by county. PMI is an optional rough add-on when the down payment is under 20%. None of that is an escrow statement.

A $400,000 purchase with 20% down is a $320,000 loan. The P&I on that loan at a mid-6% 30-year rate is a different number than the same price with 5% down, PMI, and taxes. Type the structure you are actually considering.

Loan type and state notes for 2026

Conventional, FHA, VA, and USDA loans can share the same amortization math and still differ on insurance, funding fees, and limits. An FHA purchase in a high-cost Florida county in 2026 is capped by HUD’s county limit, not by this calculator. Type the loan amount that actually fits the program.

Property tax in Texas, New Jersey, or Illinois can rival the P&I on a modest house. If you leave tax at zero, the “payment” is incomplete for budgeting.

Questions about this calculator

Does the mortgage payment include taxes and insurance?

Only if you type them. The headline is principal and interest. Escrow lines are optional. A lender quote that looks higher is often including taxes, insurance, or a different rate.

What rate does CostAnswer use in 2026?

The stored Freddie Mac PMMS weekly national averages for 30-year and 15-year fixed loans, with the observation period printed on the page. You can replace that with a quote. It is a U.S. average, not a Florida or California local rate.

Can this estimate an FHA payment in Florida?

You can type an FHA down payment and a quoted FHA rate. The page does not apply FHA mortgage insurance premiums, county loan limits, or Florida property-tax millage. For 2026 FHA limits, use HUD’s published county limits, then type the loan amount those limits allow.

Is this a refinance calculator?

It will price a new payment if you enter the new balance, rate, and term. Break-even against closing costs is on the refinance calculator.

Terms used here

Principal and interest (P&I)
The amortizing loan payment. It does not include tax, insurance, HOA, or PMI unless you add them.
PMMS
Freddie Mac’s Primary Mortgage Market Survey, a weekly national average of 30-year and 15-year fixed rates.
PMI
Private mortgage insurance, often required when you put down less than 20% on a conventional loan. The optional line here is a rough estimate.
Escrow
A lender-held account for tax and insurance. This page does not build an escrow analysis.
FHA loan limit
The maximum FHA-insured loan HUD publishes by county and year. Not computed on this page.

Practical tips

  • If you have a quote, type that rate. The national average is a starting point only.
  • Compare 15-year and 30-year on the same price and down payment before you chase a lower monthly number.
  • Open the amortization calculator if you want principal vs. interest by payment.

Limits and caveats

  • Not a lender decision, not a Good Faith Estimate, and not financial advice.
  • Points, origination fees, and prepaid interest are outside the monthly P&I.

Results are for information. They are not legal, tax, medical, or financial advice. How the math is maintained · Report a wrong figure.

Engine notes

Rounding, versioning, and omissions that sit beside the guide rather than repeating it.

  • Loan amount. Home price minus the down payment is the amount that is amortized.
  • Fixed monthly P&I. The payment uses the standard fixed-rate formula. A 0% rate splits the loan evenly across the months.
  • Taxes, insurance, HOA, PMI. Those lines are only what you type, plus an optional flat PMI estimate when the down payment is under 20%. They are not looked up by ZIP.

Calculation receipt

What each number here is

The arithmetic is decided by your inputs. Official data only supplies a starting value, and anything you type replaces it.

OBSERVEDFreddie Mac PMMS
Only a starting value. A figure from your own bill or quote replaces it and is used instead.
MODELEDPrivate mortgage insurance
A flat 0.5% of the original loan a year, applied only when the down payment is under 20%. No national PMI rate table exists — insurers price it on credit, loan-to-value and loan type — so this is a placeholder to replace with a real quote, never a figure to plan on.
USER ENTEREDA figure you enter
A figure you typed. It replaces our default and is used exactly as given.

Sources

Where this data comes from

Freddie Mac PMMSSource: Freddie Mac Primary Mortgage Market Survey (PMMS), national weekly averages for 30-year and 15-year fixed-rate mortgages. Snapshot freddie-mac-pmms-2026-09-03-v1.Freddie Mac · Sep 3, 2026 ↗Consumer Financial Protection BureauHow mortgage payments, escrow, and PMI work, in plain language.Official guidance ↗

Next

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MoneyAfford this houseA planning screen for a specific house, or a comfortable / reasonable / aggressive price from take-home pay, debts, and the most recent national average rate.MoneyConforming loan limitThe FHFA loan limit for your county and unit count, and whether a given loan amount is conforming, high-balance, or jumbo.MoneyLoan paymentMonthly payment, total interest, and payoff time for a fixed-rate loan. Add extra principal if you want to see how much sooner it ends.MoneyMortgage payoffSee how extra principal changes the remaining payoff date and interest on the current mortgage balance.MoneyAmortizationSee principal, interest, and remaining balance by payment for a fixed-rate loan. The payment uses the same engine as the Loan Calculator.MoneyVA funding feeThe VA funding fee from the published rate charts: loan type, first or subsequent use, and down payment, including the option to finance the fee.