🏠Mortgage Payment Calculator (PITI)
Your real mortgage payment is more than principal and interest. This calculator adds property tax, home insurance, PMI and HOA to show your true monthly cost — what lenders call PITI.
Last updated: · Reviewed by The CalcWise Team
Advertisement
Advertisement
How to use this calculator
- Enter the home price and your down payment.
- Add the interest rate, loan term, and your annual property tax and insurance.
- Include any monthly HOA fee, then Calculate to see your full PITI payment.
How it works
PITI stands for Principal, Interest, Taxes and Insurance — the four parts of a typical mortgage payment. Many calculators only show principal and interest, which understates what you will actually pay each month by hundreds of dollars.
If your down payment is less than 20% of the home price, lenders usually require Private Mortgage Insurance (PMI). This calculator estimates PMI automatically so your payment reflects reality, and removes it once you reach 20% down.
Example: A $400,000 home with $80,000 down (20%) at 6.5% over 30 years, plus $4,800 tax and $1,500 insurance, costs roughly $2,550/month all-in — with no PMI because of the 20% down.
Frequently asked questions
What is included in a PITI payment?
Principal, Interest, property Taxes and homeowners Insurance — plus PMI and HOA fees where they apply. It is the full monthly cost of owning the home.
When do I have to pay PMI?
Most lenders require PMI when your down payment is under 20% of the home price. It typically falls away once you build 20% equity.