Calculate your total monthly mortgage payment including principal, interest, property taxes, homeowners insurance, PMI, and HOA fees. Complete PITI breakdown with amortization schedule.
This mortgage calculator helps home buyers estimate their complete monthly housing payment. Unlike basic loan calculators, it includes real-world costs: property taxes, homeowners insurance, PMI (when down payment is under 20%), and HOA fees. Get a full PITI breakdown plus an interactive amortization schedule. All calculations happen in your browser — your financial data never leaves your device.
PITI stands for Principal, Interest, Taxes, and Insurance — the four main components of a monthly mortgage payment. Principal + Interest is your loan repayment. Property tax and homeowners insurance are often held in an escrow account and paid by your lender. Some loans also require PMI (Private Mortgage Insurance) and HOA fees.
PMI (Private Mortgage Insurance) protects the lender if you default. It is typically required when your down payment is less than 20% of the home price. PMI automatically drops off once you reach 20% equity in your home, usually around month 60-80 for a 30-year loan with 10% down.
The traditional recommendation is 20% to avoid PMI and get better rates. However, many buyers put down 3.5% (FHA) or 5-10% (conventional). A larger down payment reduces your monthly payment and total interest, but depletes savings. Use the affordability analyzer to find what works for your budget.
The 28/36 rule is a common lending guideline. The front-end ratio (28%) says your housing payment should not exceed 28% of gross monthly income. The back-end ratio (36%) says total debt payments (housing + car + credit cards + student loans) should not exceed 36% of gross monthly income.
You can request PMI cancellation when your loan balance reaches 80% of the original home value (20% equity). By law, lenders must automatically terminate PMI when your balance hits 78% of the original value. This calculator shows the estimated month when PMI will drop off.
No, closing costs (typically 2-5% of home price) are paid upfront at purchase and not part of the monthly payment. Budget separately for appraisal, inspection, title insurance, lender fees, and prepaid taxes/insurance.