What will your monthly mortgage payment be? In the market for a new home? Find out how much you re likely to shell out each month for a new address. Price of home: $ Downpayment: $ Interest rate: (%) *Yearly property taxes: $ *Homeowners insurance: $ PRINCIPAL & INTEREST: $ TAXES & INSURANCE: $ *PMI: $ TOTAL: $    ABOUT THIS TOOL *Term: We've assumed a 30-year term *Property taxes: We've assumed a 1.5% property tax on the purchase price. Your rate, and ultimate tax bill, may differ significantly. For a more accurate total payment, enter your own estimated annual taxes. *Homeowners insurance: Uses an annual premium of $0 *PMI: Your total payment includes an estimated $80 fee for private mortgage insurance (PMI) if your downpayment is less than 20% of the purchase price. Average PMI runs $50 to $80 per month on a median priced home of $159,000, according to the Mortgage Insurance Companies of America. But it can climb to $150 per month or more.