Mortgage Calculator — Monthly Payment (PITI)

Estimate your true monthly mortgage payment — principal, interest, property tax, insurance, PMI, and HOA. 100% in your browser — free, no sign-up.

How to

  1. 1Enter the home price, down payment, interest rate, and loan term.
  2. 2Optionally add property tax, home insurance, PMI, and HOA for the full PITI payment.
  3. 3Read the monthly breakdown, loan amount, and total interest — adjust to compare.

What is a mortgage calculator?

It estimates what you will actually pay each month for a home loan — not just the loan repayment, but the full housing cost: principal, interest, property tax, home insurance, mortgage insurance (PMI), and any HOA dues. Enter the home price, down payment, interest rate, and term to see the breakdown.

What is PITI?

PITI is the four core parts of a mortgage payment: Principal (the loan balance you pay down), Interest (the cost of borrowing), Taxes (property tax, usually billed yearly and split into monthly), and Insurance (homeowner's insurance). Lenders look at PITI — not just principal and interest — to decide what you can afford.

The formula

Monthly principal & interest = L · r · (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where L is the loan (home price − down payment), r is the monthly rate (annual ÷ 12 ÷ 100), and n is months (years × 12). The full payment adds property tax ÷ 12, insurance ÷ 12, PMI ÷ 12, and monthly HOA on top.

PMI and your down payment

If your down payment is under 20% of the price, lenders usually require Private Mortgage Insurance (PMI) — often about 0.3–1.5% of the loan per year — until you build enough equity. A larger down payment lowers the loan, the monthly payment, and can remove PMI entirely.

What it does not include

This is an estimate. Actual interest rates depend on your credit and lender; property tax and insurance vary by location; and it excludes closing costs, maintenance, and utilities. Use it to compare scenarios, then confirm exact figures with a lender.

FAQ

What is PITI?+

Principal, Interest, Taxes, and Insurance — the four parts of a typical mortgage payment. The calculator also adds PMI and HOA if you enter them.

When do I pay PMI?+

Usually when your down payment is under 20% of the price. PMI is often about 0.3–1.5% of the loan per year and drops off once you build enough equity.

How is the monthly payment calculated?+

Principal & interest use the standard amortization formula on the loan (price − down payment); then property tax, insurance, PMI (all annual ÷ 12) and monthly HOA are added.

What is not included?+

Closing costs, maintenance, and utilities. Rates, taxes, and insurance vary, so treat it as an estimate and confirm with a lender. Calculated privately in your browser.

Is it free?+

Yes, completely free — no sign-up and no watermark.

Is my data private?+

Yes — this tool runs entirely in your browser. Your files and text are never uploaded.

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