Mortgage tools
Mortgage Calculator with Taxes, Insurance & PMI
Estimate your full monthly housing payment—principal & interest, property tax, homeowners insurance, and PMI—then explore a complete amortization schedule.
How to use this free PITI calculator
Start with your expected home price and down payment. The down payment amount and percentage stay in sync, so you can adjust either one. Choose a loan term of 15, 20, or 30 years and enter the annual interest rate you expect from lenders in your market. Then add annual property tax and homeowners insurance so the monthly estimate reflects escrowed costs—not just principal and interest.
If your down payment is under 20%, private mortgage insurance (PMI) is applied using the annual PMI rate you provide. The result shows an initial monthly PMI estimate; it does not predict your servicer's cancellation date or requirements. Use the optional extra monthly payment field to see how paying more toward principal can cut total interest and shorten the payoff timeline. Results update instantly as you type—there is no submit button and no data leaves your browser.
Below the payment breakdown, open the amortization table to inspect month-by-month principal, interest, and remaining balance. Reviewing the first year helps you understand early interest costs; the full schedule is useful for long-term planning and comparing payoff strategies before you talk with a lender.
This is an estimate only and not financial advice. Actual lender quotes, taxes, insurance, and PMI terms may differ.
What your mortgage numbers mean
Principal and interest is the core loan payment calculated from your loan amount, rate, and term using a standard fixed-rate amortization formula. Property tax and insurance are shown as monthly estimates by dividing annual figures by twelve—common for escrow planning even though tax bills may be due less often. PMI protects the lender when you put less than 20% down; rates vary by credit score, loan type, and lender, so treat the PMI line as a planning placeholder.
Total monthly payment (PITI) is the figure most buyers should budget against when comparing homes. It is usually higher than the payment advertised in a rate quote that shows only principal and interest. Pair this calculator with the home affordability calculator to check whether a payment fits the 28/36 guideline, verify your debt-to-income ratio, and use the loan calculator for non-mortgage installment debt.
Mortgage calculator FAQ
What is a PITI mortgage payment?
PITI stands for Principal, Interest, Taxes, and Insurance. Many simple calculators only show principal and interest. This tool also adds property tax, homeowners insurance, and PMI when your down payment is under 20%, giving a more realistic monthly housing cost.
When do I have to pay PMI?
Private mortgage insurance (PMI) is typically required when your down payment is less than 20% of the home price on a conventional loan. This calculator automatically includes PMI only when your down payment percentage falls below that threshold.
How does the amortization schedule work?
Each monthly payment covers interest first, then reduces your loan balance with the remaining principal. Early payments are interest-heavy; later payments apply more toward principal. You can view the first 12 months or the full schedule.
What does an extra monthly payment do?
Extra payments go straight to principal (in this estimate). That shortens the loan term and reduces total interest. The results card shows estimated interest saved and time saved compared with making only the required payment.
Are these numbers a lender quote?
No. This is an educational estimate only and not financial advice. Closing costs, HOA dues, escrow cushions, loan product rules, and regional tax assessments can change your real payment.