Loan Details
PITI means principal plus interest plus taxes plus insurance. PMI is added when your down payment is below 20%.
Taxes & Insurance
Results
Estimated monthly payment
$0
Escrow sensitivity
Property tax and insurance can change after closing. This shows how the payment moves if those estimates rise.
Amortization schedule
What This Means In Real Life
Questions To Ask Yourself
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Results are estimates for educational purposes only and are not financial advice. Rates and terms vary by lender and individual circumstances. See full disclosure.
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Methodology
- Principal and interest use the standard amortization formula: M = P x [r(1+r)^n] / [(1+r)^n - 1].
- PMI cancellation is found by amortizing month by month until remaining balance divided by home price is 80% or less.
- Taxes and insurance are estimates. Actual escrow amounts, insurance premiums, assessments, and lender rules vary.
- Last updated: May 2026
For educational purposes only. Not financial advice.
Frequently asked questions
What does PITI stand for?
PITI stands for Principal, Interest, Taxes, and Insurance — the four components that make up a typical monthly mortgage payment.
Is PITI the same as my monthly mortgage payment?
Usually yes. PITI covers the core costs, though some loans also include PMI (private mortgage insurance) if your down payment is under 20%.
How do I lower my PITI payment?
You can lower PITI by making a larger down payment (reduces principal and may eliminate PMI), shopping for a lower interest rate, appealing your property tax assessment, or comparing homeowners insurance quotes.
Does PITI include HOA fees?
HOA fees are not part of PITI — they are a separate monthly cost. Some lenders factor HOA into affordability calculations but it is not included in the standard PITI acronym. Add it manually to your budget estimate.
What is PMI and when do I need it?
PMI (private mortgage insurance) is required by most lenders when your down payment is less than 20% of the home price. It typically costs 0.5–1% of the loan amount per year and is added to your monthly payment until you reach 20% equity.
How does my credit score affect my PITI payment?
Your credit score affects your interest rate, which directly impacts the P+I portion of PITI. A score of 760+ typically qualifies for the best rates; dropping to 680 can add 0.5–1% to your rate, costing tens of thousands over the loan life.
How this calculator works
Monthly principal and interest is calculated using the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n-1], where P is the loan principal, r is the monthly interest rate, and n is the number of payments. Property tax and insurance are divided by 12 and added to the monthly payment. PMI is estimated at 0.5-1% of the loan amount annually when down payment is under 20%.
Sources & assumptions
- Amortization formula per Freddie Mac standard mortgage guidelines
- PMI rate range (0.5-1%) per Urban Institute Housing Finance Policy Center
- Property tax estimates vary by state; consult local county assessor records or use the property tax calculator to stress-test reassessment and escrow changes.
- Homeowners insurance estimates based on national averages from Insurance Information Institute