Updated 2026-04-20 · Mortgage · Educational use only ·

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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Enter Values

Currency($)

Loan Principal($)

Interest Rate(%)

Loan Term(yrs)

Annual Property Tax($)

Annual Home Insurance($)

Monthly PMI($)

Monthly HOA($)

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Formula Used

P I T I = P I + \frac{T}{12} + \frac{I}{12} + P M I + H O A

P I T I

Total monthly payment

P I

Principal + interest payment

T

Annual property tax

I

Annual insurance

P M I

Monthly private mortgage insurance

H O A

Monthly homeowners association fee

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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 2,396.20. 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 shown reflects the core calculation; additional costs such as arrangement fees, valuation, legal fees, insurance, and any early-repayment charges (where applicable) sit on top and can add materially to the total cost of borrowing. Rates and product terms can also change over the life of the loan, which can shift the picture relative to this fixed-snapshot estimate.

Example Scenario

PITI estimate indicates $2,396.20 total monthly housing cost.

Inputs

Loan Principal:$300,000

Interest Rate:6.5%

Loan Term:30 yrs

Annual Property Tax:$4,500

Annual Home Insurance:$1,500

Monthly PMI:$0

Monthly HOA:$0

Expected Result$2,396.20

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.

References

Investopedia — PITI

Frequently Asked Questions

What is PMI and when does it apply?

Private Mortgage Insurance (or its equivalent) protects the lender when the deposit is below a threshold (commonly 20 percent). It typically costs 0.3-1.5 percent of loan balance annually. In some jurisdictions PMI falls away once the loan-to-value ratio reaches a defined threshold — check the rules that apply to your loan.

How do I find my property tax?

Your local tax authority's website or annual property bill lists the charge. Property tax rates vary widely by jurisdiction — typically a small percentage of property value, but the exact rate depends on national, regional, or municipal rules.

What about flood or earthquake insurance?

Standard home insurance typically excludes both. Properties in flood-prone areas usually require a separate flood insurance policy at an additional monthly cost. Earthquake insurance is also a separate policy in regions where it's available and relevant.

Are HOA fees deductible like mortgage interest?

Primary residence HOA fees are not tax-deductible. Investment property HOA fees are deductible as a rental expense. The calculator does not model tax treatment.

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