Mortgage escrow calculator: estimate your monthly escrow payment for property taxes and homeowners insurance with editable rates. Free, private, no signup.
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Calculation details
Every figure above is calculated locally in your browser from the assumptions shown. No inputs are sent anywhere. See the methodology section below for the formulas used.
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Monthly escrow components
What this means for your numbers: The 2-month cushion adds $88.89/month to the worked example's first-year payment: $1,066 held interest-free. At today's ~4% savings rates, the float costs about $43/year.
Illustrative breakdown using the worked example above. The calculator computes your own numbers with the same formula.
A worked example, down to the cents
Take a house with $3,600 annual property tax and $1,548 annual homeowners insurance. The formula adds them first: 3600 + 1548 = 5148 per year of escrowable costs. Divide by 12 to get the monthly escrow line: 5148 / 12 = 429.00 exactly. So the lender collects $429.00 every month on top of your principal and interest.
To see the full payment effect, assume a $320,000 loan at 6.5% for 30 years. Principal and interest on that loan is about $2,022.62. Add the escrow and the total monthly payment is 2022.62 + 429.00 = $2,451.62. That is roughly a 21% jump over the loan-only figure, which is why first-time buyers who budget only principal and interest get blindsided.
The cushion matters too. Many lenders collect one or two extra months of escrow at closing. On this example, one extra month is $429.00; two months is $858.00. That money sits in your escrow account, not the lender's pocket, but it does raise your cash-to-close on day one.
Where the estimate breaks down
The formula assumes tax and insurance are the only escrow items. PMI is a real omission: on a $320,000 loan with 5% down, PMI commonly runs $150 to $250 per month and is often billed through escrow. Add $200 and this example's true escrow line is 429 + 200 = $629, not $429. Flood insurance, if the property is in a mapped flood zone, is another escrowed line that can exceed $1,000 per year in high-risk zones.
The static inputs also drift. The average effective property tax rate changes with reassessments: a home reassessed after a sale can see its tax bill jump 20% to 40% in one cycle. Insurers have raised premiums sharply in several states since 2023, with some renewals up 25% or more. A calculation done at purchase can be short by $50 to $100 per month within two years, which then triggers an escrow shortage and a higher payment to rebuild the balance.
Finally, lenders compute escrow with aggregate accounting under RESPA rules, allowing up to a 2-month cushion, so your actual line item can legally differ from (tax + insurance) / 12 by up to about $71.50 on this example. Treat the result as the floor, not the invoice.
