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PITI Calculator

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Enter your loan details, property tax, and insurance to find your full monthly mortgage payment - Principal, Interest, Taxes, and Insurance combined.

PITI Calculator

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Principal & Interest$1,896.20
Property tax (monthly)$300.00
Insurance (monthly)$100.00
Total monthly PITI$2,296.20
Doesn't include PMI or HOA fees, which some homeowners also pay as part of their monthly housing cost.

The formula

Principal & Interest = standard amortization formula Monthly tax = Annual property tax / 12 Monthly insurance = Annual insurance / 12 Total PITI = Principal & Interest + Monthly tax + Monthly insurance
Example

$300,000 loan, 6.5%, 30 years, $3,600/year tax, $1,200/year insurance: P&I = $1,896.20, tax = $300, insurance = $100 - total PITI = $2,296.20/month.

Step-by-step guide

  1. Enter your loan amount, interest rate, and term.
  2. Enter your annual property tax and homeowners insurance estimates.
  3. Read your total monthly housing payment, broken into each component.

Why lenders care about PITI, not just the loan payment

When a lender evaluates whether you can afford a mortgage, they typically calculate your debt-to-income ratio using the FULL PITI figure, not just the principal and interest portion - because tax and insurance are real, unavoidable monthly obligations tied to owning the home, regardless of how the loan itself is structured. This is exactly why two homes with identical loan amounts and rates can have meaningfully different "true" monthly costs once local property tax rates and insurance costs are factored in.

Common mistakes

Comparing homes using only the principal and interest payment - two homes at the same price can have very different total monthly costs once property tax rates differ.
Forgetting PMI or HOA fees where they apply - this calculator covers the four core PITI components, but doesn't include private mortgage insurance or homeowners association dues, which add to the real total for some buyers.

Frequently asked questions

Why isn't PMI included in PITI?

PITI is a standard four-part acronym (Principal, Interest, Taxes, Insurance) that predates widespread PMI requirements - PMI is a separate, additional cost that only applies to some loans (typically those with less than 20% down), so it's tracked separately even though it adds to the real total monthly payment.

Do property taxes and insurance get paid directly by me?

Often not directly - many lenders collect the tax and insurance portions monthly into an escrow account, then pay the actual tax and insurance bills on your behalf when they come due.

How do I estimate my property tax before buying?

Local county or municipal assessor websites typically publish current tax rates, and real estate listings often show the current owner's actual annual tax bill as a reference point.

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