Mortgage PITI Calculator
Total monthly housing cost including taxes, insurance, PMI, and HOA
Calculate total monthly PITI housing payment. Principal + interest + taxes + insurance + PMI + HOA. Enter loan principal to size affordability.
What this tool does
This calculator estimates your total monthly housing payment by combining four key cost components. Enter your loan principal, interest rate, and loan term to calculate the monthly principal and interest portion using standard amortization. Then add your annual property tax and home insurance costs—the calculator converts these to monthly amounts. If applicable, include monthly PMI (private mortgage insurance) and monthly HOA (homeowners association) dues. The result shows your combined monthly payment and breaks down each component so you can see what goes toward principal and interest, taxes, insurance, PMI, and HOA separately. This total represents the recurring monthly cost tied to homeownership. The calculation assumes these costs remain stable and is for educational illustration only—actual payments may vary based on rate changes, tax reassessments, or insurance adjustments over time.
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Formula Used
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Disclaimer
Results are estimates for educational purposes only. They do not constitute financial advice. Consult a qualified professional before making financial decisions.
What PITI Covers
PITI stands for Principal, Interest, Taxes, and Insurance — the four components lenders bundle into a single monthly payment in many mortgages. Adding PMI (private mortgage insurance, required when deposit is below 20 percent) and HOA (homeowner association) fees gives the complete monthly housing cost.
PITI vs. P+I Alone
Mortgage shoppers often focus on principal and interest only and encounter a higher monthly cost after closing. PITI can be 30-40 percent higher than P+I for properties with high taxes, expensive insurance, HOA dues, and PMI. Budgeting from PITI instead of P+I reveals the full monthly obligation from year one of ownership.
Run it with sensible defaults
Using loan principal of 300,000, interest rate of 6.5, loan term of 30, annual property tax of 4,500, the calculation works out to 2,396.34. The defaults serve as a starting point.
The levers in this calculation
The inputs — Loan Principal, Interest Rate, Loan Term, Annual Property Tax, and Annual Home Insurance — do not pull with equal force. Adjusting one input at a time toward extreme values shows which ones move the result most.
How the math works
Principal and interest derive from the standard amortization formula, taxes and insurance convert from annual to monthly, PMI and HOA add as stated. Results are estimates for illustration purposes only.
What this matters for
A mortgage typically represents the largest single financial commitment a person makes. The difference between a carefully chosen product and a hasty one can run into tens of thousands over the life of the loan. Running the numbers here before committing provides a foundation for due diligence.
What this doesn't capture
The figure excludes arrangement fees, valuation costs, legal fees, insurance, and any early-repayment charges — those can add several thousand to the headline cost. Rate changes at renewal for fixed-term deals will shift the picture further. Use this for the core interest/principal math and add the other costs on top.
PITI estimate indicates 2,396.20 total monthly housing cost.
Inputs
This example uses typical values for illustration. Adjust the inputs above to match a specific situation and see how the result changes.
Sources & Methodology
Methodology
The calculator computes monthly PITI by combining four cost components. Principal and interest (PI) are derived using the standard amortization formula based on loan principal, annual interest rate, and loan term in years. Annual property tax and annual home insurance are each divided by 12 to convert to monthly equivalents. Monthly PMI and monthly HOA fees are added directly. The result represents total estimated monthly housing cost. The model assumes a fixed interest rate, constant property tax and insurance amounts throughout the loan period, and treats all fees as unchanging. It does not account for rate adjustments, tax or insurance increases, payment variations, or refinancing scenarios.
Frequently Asked Questions
What is PMI and when does it apply?
How do I find my property tax?
What about flood or earthquake insurance?
Are HOA fees deductible like mortgage interest?
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