PITI stands for Principal, Interest, Taxes, and Insurance. It is the all-in monthly housing cost many lenders use to evaluate affordability. HOA fees may be added in some underwriting cases.
Mortgage Calculator
Estimate your full monthly mortgage payment with a complete PITI breakdown: principal, interest, property taxes, insurance, and HOA fees.
Last updated: 2026-03-03
Mortgage calculator
Enter mortgage details
Include taxes, insurance, and HOA to estimate your full monthly housing payment.
Total Monthly Payment (PITI)
$2,362.85
Principal + interest + taxes + insurance
Principal & Interest
$1,862.85
Monthly Property Tax
$350.00
Monthly Insurance
$150.00
Loan Amount
$280,000.00
Total Interest Paid
$390,624.92
Total Cost (PITI x 360 months)
$850,624.92
Example scenarios
Apply a preset to compare common homebuying situations quickly.
First-Time Buyer
$350,000 home, 20% down, 30-year fixed
Common conventional mortgage scenario that shows full monthly PITI with taxes and insurance.
Result: $2,362.85/mo total PITI, $390,624.92 total interest
15-Year Fixed
$200,000 home, 10% down, 15-year term
Shorter term increases monthly payments but sharply reduces lifetime interest paid.
Result: $1,834.66/mo total PITI, $102,238.79 total interest
Condo with HOA
$450,000 condo, 25% down, HOA included
Illustrates how HOA can materially change the true monthly payment lenders use in underwriting.
Result: $3,189.84/mo total PITI, $491,344.18 total interest
How Your Mortgage Payment is Calculated
Your monthly mortgage payment is more than just principal and interest. Lenders and banks evaluate affordability using PITI, the sum of principal, interest, taxes, and insurance.
P&I payment formula
M = P[r(1+r)^n] / [(1+r)^n - 1]
P is loan amount, r is monthly interest rate, and n is number of monthly payments. At 0% APR, payment is simply loan amount divided by term months.
Property taxes are typically escrowed and paid annually, but budgeted monthly in lender underwriting. Typical U.S. rates often range from 0.5% to 2.5% of home value.
Homeowners insurance is usually required by lenders, and HOA fees can materially change the all-in monthly payment for condos and planned communities.
This calculator provides estimates for educational planning. Actual obligations can vary by lender, escrow policy, and local tax assessments.
Frequently Asked Questions
Common questions about mortgage payments, PITI, and homebuying tradeoffs.
Mortgage principal and interest is calculated with the standard amortization formula M = P[r(1+r)^n] / [(1+r)^n - 1], where P is loan amount, r is monthly interest rate, and n is number of monthly payments.
A 15-year mortgage usually has higher monthly payments but much less total interest. A 30-year mortgage lowers monthly obligations but increases lifetime cost. Compare both with your own numbers before deciding.
A higher down payment reduces loan amount, which lowers monthly principal and interest and total interest paid. It also affects whether private mortgage insurance may be required by lenders when down payment is below 20%.
Property tax rates vary by county and state, but many buyers start estimates around 1.0% to 1.5% of home value annually. Always verify your local tax rate for a more accurate monthly payment estimate.
Related tools
Use these calculators to compare financing options and plan your next money move.
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Rate shopping can materially reduce your monthly payment and total interest paid.
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Disclaimer
This calculator is for educational purposes only and does not constitute financial advice. Results are estimates based on the inputs provided. Consult a qualified mortgage professional for personalized advice.