PITI Mortgage Calculator – Monthly Payment Estimate

A mortgage payment is rarely just principal and interest. Lenders bundle in property taxes, homeowners insurance, and sometimes private mortgage insurance (PMI) and HOA dues, all rolled into one monthly bill known as PITI. This calculator estimates that full payment so you can see the real cost of homeownership, not just the loan itself.

Enter your home price, down payment, interest rate, and loan term to get your base principal and interest payment. Then add your local property tax rate, annual insurance premium, HOA fees, and PMI rate to see the complete picture, along with a year-by-year amortization schedule showing how your balance shrinks over time.

02What's included in PITI

PITI stands for Principal, Interest, Taxes, and Insurance — the four core components lenders use to qualify you for a loan and calculate your monthly payment.

• Principal & interest: repayment of the loan amount plus the lender's interest charge
• Property tax: billed annually by your local government, typically collected monthly via escrow
• Homeowners insurance: protects the property and is usually required by the lender
• PMI: required on conventional loans when your down payment is below 20%
• HOA dues: a separate monthly fee for condos or planned communities, not technically part of PITI but often budgeted alongside it

03How much house can you afford

Most lenders use the 28/36 rule as a starting point: your housing payment (PITI) should stay under 28% of your gross monthly income, and your total debt payments — including car loans, student loans, and credit cards — should stay under 36%. Use this calculator alongside our Loan Affordability calculator to check both sides of that equation before you shop for a home.

04PITI at 10% vs 20% down payment

The size of your down payment changes almost every line of your PITI payment, not just the loan amount, but whether PMI applies at all. Here's how the numbers compare on the same $400,000 home at a 6.5% rate over 30 years.

• 10% down ($40,000): loan amount $360,000, principal & interest ~$2,275/mo, plus PMI ~$150/mo — full PITI around $2,909/mo
• 20% down ($80,000): loan amount $320,000, principal & interest ~$2,023/mo, no PMI required — full PITI around $2,506/mo
• Putting down an extra $40,000 cuts the monthly PITI payment by roughly $400, partly from a smaller loan and partly from dropping PMI entirely

05Example

On a $400,000 home with a 10% down payment and a 6.5% rate over 30 years, the principal and interest payment alone runs a little over $2,270 a month. Add a 1.1% property tax rate, $1,400/year insurance, and PMI on the smaller down payment, and the full PITI payment climbs closer to $2,900 — a difference worth planning for before you make an offer.