PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a typical monthly mortgage payment.

Does this include PMI?

Yes. When your down payment is under 20% (LTV > 80%), the calculator automatically adds Private Mortgage Insurance at 0.5% of the loan amount per year, a common industry default. Actual PMI rates vary from 0.3% to 1.5% depending on credit and LTV.

Are property taxes and insurance annual or monthly?

Enter both as annual dollar amounts. The calculator divides each by 12 for the monthly figure. HOA fees are entered as a monthly amount.

Why does PMI matter for first-time buyers?

PMI can add $100–$300+ to a monthly payment when the down payment is under 20%, and it must be paid until the loan-to-value ratio reaches 80% — sometimes for years. Modeling it upfront prevents budgeting surprises.

When should I get pre-approved instead of just calculating?

Use this calculator early to set a price range. Once you're seriously shopping, get pre-approved by a lender to lock a rate, see your real qualifying amount, and make stronger offers.

Mortgage Calculator

Finance· 37 tools

Free online mortgage calculator. Enter home price, down payment ($ or %), loan term, and interest rate to see your estimated monthly payment. Includes property tax, home insurance, HOA fees, and automatic PMI when LTV exceeds 80%.

Home Price ($)

Loan Term

Down Payment

$80,000 (20.0% of price)

Interest Rate

Taxes & fees

Property Tax ($/yr)

Home Insurance ($/yr)

HOA Fees ($/mo)

$2,576

per month

Principal & Interest

$2,076

Property Taxes

$400

Home Insurance

$100

Loan amount

$320,000

Total interest (30y)

$427,185.01

$336k$248k$160k$72k$-16000

Y0Y15Y30

$747,185

TOTAL PAID

Principal
$320,000
Total interest
$427,185

Disclaimer: For informational purposes only. This is not financial, tax, or legal advice — consult a licensed professional before making decisions.

Frequently Asked Questions

References

Explore Loan Choices — mortgage education — Consumer Financial Protection Bureau
PMI: When and why you need it — Consumer Financial Protection Bureau

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Frequently Asked Questions

References and sources

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