FinanceCalc

Pennsylvania Mortgage Calculator

Calculate your Pennsylvania mortgage payment with accurate PA property tax rates. See median home prices and closing costs for Pennsylvania.

Loan Details

?The purchase price of the home you're considering buying.
?The amount you plan to pay upfront when purchasing the home.
?The annual interest rate on your mortgage loan.
?The length of your mortgage in years. Common terms are 15 or 30 years.
?The annual property tax rate as a percentage of home value.
?Annual homeowners insurance premium.
?Monthly homeowners association (HOA) fees, if applicable.
End of inputs

Results

Monthly Payment
$1,719.14

Total / month

Loan Amount
$200,000.00

After down payment

Total Interest
$255,085.82

Over 30 years

Monthly Payment Breakdown
Amortization Schedule
Payment Schedule
MonthPrincipalInterestBalance

360 months · Showing 0 rows

Key Insights
Over the life of this loan you'll pay $255,085.82 in interest — more than the principal itself. A shorter loan term or biweekly payments could dramatically reduce this cost.
Making one extra payment per year (about $105.35/month) could save approximately $57,939.75 in interest and pay off your loan 5.8 years earlier.
Your interest rate of 6.50% is in line with recent market averages. Shopping around with at least three lenders could still save you thousands over the life of the loan.
Your down payment of 20% or more means you avoid Private Mortgage Insurance (PMI) entirely — a saving of hundreds of dollars per month.
Your down payment of 28.57% is strong, giving you immediate equity in your home and helping you secure better loan terms.

Pennsylvania Housing Facts

Median Home Price
$280,000
Average Property Tax Rate
1.45%
Annual Tax on Median Home
$4,060
State Income Tax
Yes (flat 3.07%)
Homebuyer Programs
PHFA Keystone + HOMEstead DPA
Property Tax Relief
Property Tax/Rent Rebate (seniors)

How to Use This State Mortgage Calculator

  1. 1The calculator opens pre-filled with your state's median home price and average property tax rate. Adjust the Home Price slider to match the listing you are considering.
  2. 2Set your down payment. Toggle between a dollar amount and a percentage of the home price; a 20% down payment avoids PMI entirely.
  3. 3Enter the interest rate quoted by your lender. The default reflects a recent market average, but your rate depends on your credit score, loan type, and down payment.
  4. 4Review the Property Tax Rate slider — it starts at your state's average, but your actual rate depends on your county and any homestead exemptions you qualify for.
  5. 5Add annual home insurance and monthly HOA fees if applicable, then review the monthly payment breakdown, amortization chart, and AI-powered insights.

How Your Monthly Payment Is Calculated

The monthly principal-and-interest payment uses the standard amortization formula:

M = P × [r(1+r)^n] / [(1+r)^n − 1]

Where:
- M = monthly payment (principal + interest)
- P = loan amount (home price minus down payment)
- r = monthly interest rate (annual rate ÷ 12)
- n = total number of payments (years × 12)

Your total monthly housing payment (PITI) adds monthly property tax, home insurance, HOA fees, and PMI (if your down payment is under 20%). Property tax uses the rate entered for your state applied to the home price, divided by 12.

Key Mortgage Terms

Pennsylvania Mortgage FAQ

What is the median home price in Pennsylvania?

Pennsylvania's median home price of about $280,000 is below the national median, with stable, affordable markets outside Philadelphia and Pittsburgh cores. This calculator uses $280,000 as the default home price so you can see a typical monthly payment in Pennsylvania.

What is the average property tax rate in Pennsylvania?

The average effective property tax rate in Pennsylvania is about 1.45%. Pennsylvania's average effective property tax rate is about 1.45%, varying widely by school district. The Property Tax/Rent Rebate program refunds up to $650 (more for some seniors) for eligible low-income seniors and disabled residents, and homestead/farmstead exclusions reduce primary-residence assessed values in participating districts. The calculator applies 1.45% by default, but your actual rate depends on your county and assessed value.

What homebuyer assistance programs are available in Pennsylvania?

The Pennsylvania Housing Finance Agency (PHFA) offers the Keystone Government, Keystone Advantage, and HFA Preferred loans, plus the HOMEstead down payment and closing cost assistance program providing forgivable funds to eligible first-time buyers.

Does Pennsylvania offer a homestead exemption or property tax relief?

Pennsylvania's average effective property tax rate is about 1.45%, varying widely by school district. The Property Tax/Rent Rebate program refunds up to $650 (more for some seniors) for eligible low-income seniors and disabled residents, and homestead/farmstead exclusions reduce primary-residence assessed values in participating districts. Check with your county assessor to confirm which exemptions apply to your property.

What closing costs should I expect when buying a home in Pennsylvania?

Closing costs in Pennsylvania typically run 1%-1.5% of the price, with a 1% state transfer tax (often split with the seller; Philadelphia's combined rate is much higher), plus title insurance and recording fees.

How does Pennsylvania's tax structure affect my overall housing costs?

Pennsylvania has a low flat 3.07% state income tax, but local earned-income taxes and above-average property taxes (1.45%) round out the burden; rebates are available for qualifying seniors. With an average property tax rate of 1.45% and a median home price near $280,000, your total monthly housing cost includes principal, interest, taxes, and insurance (PITI).

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