The monthly payment mortgage calculator with taxes and insurance estimates the monthly house payment based on the value of the home. The calculator sets default values for property taxes, mortgage insurance (PMI), and homeowners insurance. These estimates may be high or low depending on your location, but can be adjusted in the Advanced section. They are provided to help give you a better sense of your total monthly payments (instead of just the principal and interest payments). The mortgage calculator provides a mortgage amortization schedule that breaks down payments into interest and principal.