How to use this calculator
The mortgage payment is not the cost of owning a home. This tool builds the all-in monthly budget — mortgage, tax, insurance, HOA, utilities, a maintenance reserve and other costs — and, crucially, lets you say whether your mortgage figure already includes escrow, so tax and insurance are never counted twice.
Enter your own figures in the form above. A blank field is treated as missing — not as zero — so the tool will ask you to complete it. A genuine zero is accepted where it makes sense (for example, no HOA dues). Press Calculate for a breakdown, Load worked example to fill in the example below, or Reset to return to the defaults.
Formula and assumptions
P&I mode: total = mortgage + tax + insurance + HOA + utilities + reserve + other. PITI mode: tax and insurance inputs are ignored (they are already inside the mortgage figure) and the tool says so in the result. Annual total = monthly total × 12.
Worked example
Worked example (P&I mode): P&I $2,000, tax $300, insurance $100, HOA $50, utilities $250, reserve $200. Total $2,900 per month; $34,800 per year. Switch to PITI mode with the same tax and insurance figures and the tool excludes them to avoid double-counting.
Use the Load worked example button above to reproduce this example in the form, then change one input at a time to see what drives the result.
Limitations and common mistakes
The maintenance reserve is a budgeting choice, not a prediction of actual repairs — a roof or HVAC replacement in one year will dwarf any monthly reserve. Seasonal utility variation, special assessments and income-tax effects are outside this budget; add them as “other” lines if you want them included.
Frequently asked questions
What is escrow double-counting?
Many mortgage payments already include monthly tax and insurance escrow. Adding those lines again inflates the budget by exactly those amounts. The mode selector prevents that.
Is the reserve “spent” money?
No — it is money set aside. In months with no repairs it accumulates; that accumulation is the point.
Should utilities be averaged?
Yes, use a 12-month average rather than a single summer or winter bill, and note whether the figure includes water, sewer and trash.
Sources
No external price, product or market data is used on this page. Every price, density, coverage and rate is a figure you enter, or a clearly labelled illustrative default in the form. Check product labels and supplier quotes for the figures that apply to your job.
Estimates only. Results from this calculator are not a loan offer, appraisal, engineering design, equipment selection or contractor quote.