Mortgage Calculator (PITI)
Estimate monthly housing cost beyond the loan payment alone: rollover annual property tax and homeowners insurance into monthly amounts, optionally add PMI when LTV is over 80%, and include condo or HOA dues. For payoff strategies and prepayment interest savings, see the Mortgage Prepayment Calculator.
PITI snapshot
Estimate PMI if LTV > 80%
Uses % of loan per year, spread monthly.
Annual housing (est.)
$32,351
Understanding PITI & Monthly Housing Cost
“PITI” is the backbone of how many lenders quote an affordable housing payment: Principal and Interest repay the note; Taxes and Insurance protect the collateral and satisfy local obligations. Our calculator also layers PMI when your modeled LTV stays above 80%—typical when you put down less than 20% on a conventional loan—and HOA when your community charges dues.
Loan-to-value (LTV) at a glance
| Down (approx.) | LTV | Typical notes |
|---|---|---|
| 20%+ | ≤ 80% | PMI often not required on conventional loans; lower payment risk profile. |
| 10–19% | 81–90% | PMI may apply until equity reaches roughly 78–80% LTV, depending on program. |
| 3–5% (FHA-style entry) | 95–97% | Higher LTV; use program-specific mortgage insurance fields from your lender, not only PMI. |
Escrow vs paying taxes and insurance yourself
Many lenders collect monthly tax and insurance into an escrow account so annual bills do not surprise you. This tool shows the same monthly set-aside amounts whether or not your loan uses escrows—compare the “PITI + HOA” total to your projected budget and leave room for maintenance and utilities.
Related tools on ONLINTools
- Loan Calculator — same P&I math for any fully amortizing installment loan.
- Mortgage Prepayment Calculator — see interest saved from extra principal payments.
- Rental Yield Calculator — connect housing cost to investment property returns.
Frequently asked questions
Why is my PMI line zero?
PMI is estimated only when LTV is modeled above 80% and “estimate PMI” is on. If your down payment brings LTV to 80% or below, PMI is often not required on conventional loans.
Does this include closing costs?
No. Closing costs, points, and prepaid items happen at settlement. This view is recurring monthly housing plus a first-year annual snapshot.
What about adjustable-rate mortgages (ARMs)?
This calculator models a fixed rate for the full term. ARM payments change when the rate resets; use your lender’s ARM disclosure for real scenarios.