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Try an Example
Pick a scenario to see how the calculator works, then adjust the values
Starter Home
Standard mortgage on a $300K home with taxes and insurance
Key values: $300,000 · 4.5% rate · 30 years
Condo with HOA
Condo purchase including HOA fees and PMI
Key values: $200,000 · 5% rate · $3,000 HOA
15-Year Fast Payoff
Aggressive 15-year mortgage to save on total interest
Key values: $400,000 · 3.5% rate · 15 years
This calculator is also known as PITI Mortgage Calculator.
Read the complete guideWhat is PITI?
PITI includes the principal loan amount repayment, interest charged by the lender, property taxes assessed by local government, and homeowners insurance premiums. Lenders often collect taxes and insurance in an escrow account and pay them on your behalf.
Examples
Typical House Purchase
Estimating PITI for a $350,000 home with 10% down.
Calculates the total monthly payment including P&I, estimated taxes, insurance, PMI (since down payment < 20%), and HOA fees.
Key takeaway: Understanding PITI provides a realistic budget for homeownership beyond just the base loan payment.
Planning Your House Budget
Use the PITI calculation to ensure you can comfortably afford your total housing expenses.
- Compare loan offers based on total PITI
- Budget for potential increases in taxes or insurance
- Factor PITI into your debt-to-income ratio
Frequently Asked Questions about PITI Mortgage Calculator
Why calculate PITI instead of just principal and interest?
PITI gives a much more accurate picture of your total monthly housing cost. Taxes and insurance can add significantly to your payment, and lenders consider PITI when determining affordability.
What is an escrow account?
An escrow account is managed by your lender to collect funds for property taxes and homeowners insurance. Typically, 1/12th of the annual cost is added to your monthly mortgage payment and held in escrow until the bills are due.
How does PMI affect my monthly payment?
Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20% of the home price. It adds a monthly cost that protects the lender if you default. PMI can often be removed once you reach 20% equity in your home.
Specialized Calculators
Choose from 1 specialized versions of this calculator, each optimized for specific use cases and calculation methods.
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