Home Loan Calculator
Your true monthly housing cost is more than principal and interest — property tax, homeowners insurance, HOA dues, and private mortgage insurance (PMI) all add up. This calculator combines all of them into one realistic estimate of your total monthly payment, often called PITI (principal, interest, taxes, and insurance).
Enter your numbers and select Calculate to see your estimated payment.
How this calculation works
Principal and interest use the standard amortization formula on your loan amount (home price minus down payment). PMI applies only when your down payment is below 20% of the home price, estimated as an annual percentage of the loan amount divided by 12.
Example calculation
A $400,000 home with a $60,000 down payment (15%) at 6.75% over 30 years runs about $2,205 in principal and interest, plus roughly $400 in taxes, $133 in insurance, and $170 in PMI — about $2,908 per month total.
Frequently asked questions
Is this affiliated with ICICI or any bank's home loan calculator?
No — this is an independent U.S.-focused calculator and isn't affiliated with ICICI or any specific bank. It's built around U.S. mortgage conventions (property tax, PMI, HOA) rather than any single lender's products.
When does PMI go away?
PMI is typically required when your down payment is under 20%, and can usually be removed once you reach 20% equity in the home, either through payments or appreciation — check with your servicer for the exact process.
Does this replace a formal mortgage pre-approval?
No. This is an estimate for planning purposes. Your actual rate, PMI cost, and monthly payment depend on your lender, credit profile, and the specific loan program.
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This calculator provides estimates for informational purposes only and is not a loan offer or financial advice. See our Disclaimer.