Estimate your monthly payment
Mortgage Calculator
Estimate your full monthly payment and see the lifetime cost of the loan: total interest, total paid, and a year-by-year payoff schedule.
Plano effective property tax: 1.71%
30-yr fixed benchmark, July 2026. Your quoted rate depends on credit, term, and points.
Paid on top of P&I every month. Shortens the loan and, while you have PMI, gets you to 80% sooner.
Taxes, insurance & fees
Pre-fills from the city above. These are NOMINAL combined rates (~1.7-2.5%) - what you pay without a homestead exemption.
Only a primary home qualifies for the residence homestead exemption, and you have to file for it with the appraisal district.
Recalculates from the home price at a DFW-typical 0.9% of value per year. Type over it with your own quote.
Monthly payment
$3,460
Loan amount
$400,000
Total interest
$514,918
Total P&I paid
$914,918
Note:
This calculator provides estimates only. Actual payments may vary. Contact Mali for accurate payment calculations and pre-approval assistance.
Frequently asked
What does PITI include?
PITI = Principal, Interest, Taxes, and Insurance. It’s the total monthly housing payment a lender uses to qualify you. Texas property tax is steep (roughly 1.7–2.5% effective across North Texas for 2025), so PITI is often 30–40% larger than P&I alone.
When am I required to pay PMI?
Private Mortgage Insurance is typically required when you put less than 20% down on a conventional loan. We price it off a published mortgage-insurance rate card rather than one flat number, because the real spread is wide: from 0.19% of the loan a year for strong credit at 85% loan-to-value up to 1.86% for a 620-639 score at 97%. Your credit band and your down payment both move it, which is why the calculator asks. Treat it as an estimate and not a quote - insurers price individual loans within a band around the card, and your lender’s actual number can land either side of ours. Two cancellation thresholds matter and they are not the same: you can request cancellation once the balance reaches 80% of the original value, and the lender must terminate it automatically at 78%. Here is the part most people get backwards - the automatic 78% date is fixed to your ORIGINAL amortization schedule, so paying extra principal does not move it. What extra payments do is get your actual balance to 80% sooner, which brings forward the date you can ask. Appreciation does not move either date by itself; that route needs a separate request and usually an appraisal.
Does this model FHA, VA, or ARM loans?
No. It models a conventional fixed-rate loan, and its mortgage-insurance math follows conventional PMI rules. FHA is meaningfully different: it charges an upfront premium plus an annual one, and on most loans that annual premium lasts the life of the loan rather than falling off at 80%, so an FHA payment modeled here would be optimistic. VA loans have no monthly mortgage insurance at all but do carry a funding fee. Adjustable-rate loans are not modeled either, since the payment changes after the fixed period. Use this for a conventional baseline and ask Mali for a lender introduction if you are considering FHA, VA, or an ARM.
Is this calculator accurate enough to make a decision?
It’s accurate for planning. Real lender quotes vary by credit score, loan type (conventional, FHA, VA, jumbo), points, and lender fees. Use this to budget, then get a real Loan Estimate from a lender Mali can introduce you to.
Prefer to reach out directly? Email Mali or call (972) 408-6939.