Estimate your monthly payment, total cost of ownership, and whether a home fits within the 28/36 affordability rule. Numbers update as you type.
$80,000
$4,400 / year
Used for the 28/36 affordability check
Total monthly cost
$2,512
Principal + interest + taxes + insurance + HOA
Loan summary
Affordability
Comfortably within the 28% front-end ratio
$320,000 over 30 years
How your remaining balance falls and where each payment goes — principal builds equity, interest is the lender's fee.
Over 30 years, a $320,000 loan accrues $398,321 in total interest. Remaining balance falls from $320,000 at closing to $0 at end of year 30. Half of the principal is paid down by year 22.
| Year | Remaining balance | Cumulative principal paid | Cumulative interest paid |
|---|---|---|---|
| At closing | $320,000 | $0 | $0 |
| Year 1 | $316,334 | $3,666 | $20,278 |
| Year 2 | $312,428 | $7,572 | $40,316 |
| Year 3 | $308,265 | $11,735 | $60,097 |
| Year 4 | $303,830 | $16,170 | $79,606 |
| Year 5 | $299,103 | $20,897 | $98,823 |
| Year 6 | $294,067 | $25,933 | $117,731 |
| Year 7 | $288,700 | $31,300 | $136,308 |
| Year 8 | $282,981 | $37,019 | $154,533 |
| Year 9 | $276,887 | $43,113 | $172,383 |
| Year 10 | $270,393 | $49,607 | $189,834 |
| Year 11 | $263,473 | $56,527 | $206,858 |
| Year 12 | $256,100 | $63,900 | $223,428 |
| Year 13 | $248,243 | $71,757 | $239,515 |
| Year 14 | $239,870 | $80,130 | $255,087 |
| Year 15 | $230,948 | $89,052 | $270,109 |
| Year 16 | $221,441 | $98,559 | $284,546 |
| Year 17 | $211,310 | $108,690 | $298,359 |
| Year 18 | $200,515 | $119,485 | $311,508 |
| Year 19 | $189,012 | $130,988 | $323,949 |
| Year 20 | $176,754 | $143,246 | $335,635 |
| Year 21 | $163,692 | $156,308 | $346,517 |
| Year 22 | $149,774 | $170,226 | $356,543 |
| Year 23 | $134,942 | $185,058 | $365,656 |
| Year 24 | $119,138 | $200,862 | $373,795 |
| Year 25 | $102,297 | $217,703 | $380,898 |
| Year 26 | $84,351 | $235,649 | $386,897 |
| Year 27 | $65,229 | $254,771 | $391,718 |
| Year 28 | $44,852 | $275,148 | $395,285 |
| Year 29 | $23,138 | $296,862 | $397,515 |
| Year 30 | $0 | $320,000 | $398,321 |
Two homes priced identically can carry wildly different monthly costs depending on which Sun Belt state they sit in. These are the factors that move the dial most across our 12 metros.
Property tax
Texas pays the highest property tax in the country among states without an income tax — the trade-off is no state income tax. Arizona and Tennessee sit at the other end.
Within FL, Tampa runs ~1.10% and Jacksonville ~0.89%. High local school M&O rates push some TX counties above the statewide average.
Homeowners insurance
FL averages roughly $7,100/year and TX $4,900/year against a $2,540 national figure. Arizona, inland North Carolina, Tennessee, and Georgia sit at or below national.
State income tax
That free cash flow can absorb a lot of mortgage payment — most meaningful in Texas, where high property tax eats some of the advantage back. Eight of our 12 metros sit in zero-income-tax states (all four TX, all three FL, plus Nashville).
NC's final phasedown step took effect Jan 2026. GA's rate continues to decline conditional on state revenue triggers.
Homestead protections
Both protections only kick in once you claim homestead status on a primary residence — which means the first-year tax estimate from any calculator can overstate what a long-time owner actually pays.
Special district fees
Newer master-planned communities in FL and TX often sit inside a special district that finances roads, water, and amenities through bonds — repaid by an annual fee on top of property tax. These don't appear anywhere in a standard tax estimate.
Florida — CDD
Community Development District. $1,000–$3,000/year typical; Tampa-area communities can run $4,000+. Bonds last 20–30 years.
Texas — MUD / PID
Municipal Utility / Public Improvement District. $1,000–$4,000+/year typical. Bonds last 20–40 years. Often invisible until the closing disclosure.
Tip: drop a CDD/MUD estimate into the calculator's “HOA (monthly)” field as a rough proxy until you have the actual figure for a specific community.
Figures as of early 2026 and reflect statewide averages — your specific county, ZIP, and home age can swing the numbers materially. Sources: Tax Foundation, Insurance.com, Bankrate, Florida Department of Revenue, Texas Comptroller, TWIA, Citizens Property Insurance Corporation. Confirm specifics with a local lender, insurance broker, and tax assessor.
Principal & interest uses the standard amortisation formulaM = P · r(1+r)n / ((1+r)n−1)where P is the loan amount, r is the monthly rate, and n is the number of monthly payments.
Affordability rule: lenders typically look for a front-end ratio (housing cost ÷ gross income) at or below 28%, and a back-end ratio (total debt ÷ gross income) at or below 36%. This calculator checks the front-end ratio only; you would layer on other debt payments for a full underwriting view.
Not financial advice. Actual rates, taxes, and insurance vary by lender, market, and property. Use this as a first-pass estimate and confirm specific figures with a lender and insurance broker.