PITI Calculator
Find your full monthly mortgage payment with PITI.
Results update as you type.
How it works
Your true monthly housing payment is more than principal and interest, and PITI captures the whole thing. This calculator computes it. PITI stands for principal, interest, taxes, and insurance, and you enter the loan amount, interest rate, term, annual property tax, and annual home insurance to get your full monthly payment plus each component. The principal and interest portion is the standard amortizing mortgage payment, while the taxes and insurance are divided by twelve and added on, since these are typically collected monthly by the lender into an escrow account and paid on your behalf. PITI matters because it reflects what you actually pay each month and is what lenders use to assess whether you can afford a home, comparing it against your income through debt-to-income ratios. Focusing only on principal and interest understates the real cost, sometimes by hundreds of dollars a month, especially in areas with high property taxes. Knowing your PITI helps you budget accurately, compare homes fairly, and understand lender affordability limits. If you make a down payment below 20 percent, you may also owe private mortgage insurance, which this calculator does not include but which adds to the monthly cost. Homeowners association dues, if any, are also separate. Enter your loan details, property tax, and insurance to compute your PITI.
PITI = P&I + property tax/12 + insurance/12
PITI adds the four parts of a full mortgage payment: principal and interest, computed with the standard amortization formula, plus one-twelfth of the annual property tax and one-twelfth of the annual home insurance. Lenders use PITI, not just principal and interest, to judge affordability because taxes and insurance are real housing costs.
Source:Mortgage calculation
We review all our tools from time to time to ensure accuracy.
Worked example
How to use this calculator
- 1
Enter your values
Enter loan amount, interest rate, loan term, annual property tax and annual home insurance.
- 2
Adjust the options
Fine-tune any options to match your situation.
- 3
Read your result
Total monthly payment (PITI) updates instantly as you type — no button to press.
Frequently asked questions
What does PITI stand for?
PITI stands for principal, interest, taxes, and insurance, the four components of a typical full monthly mortgage payment. Principal and interest repay the loan, while property taxes and homeowners insurance are usually collected monthly into escrow and paid on your behalf. Together they represent your true monthly housing cost.
How is PITI calculated?
Compute the principal and interest with the standard amortization formula from the loan amount, rate, and term, then add one-twelfth of the annual property tax and one-twelfth of the annual insurance. The calculator does all four parts and sums them into your total monthly payment, showing each component separately.
Why do lenders use PITI instead of just principal and interest?
Lenders use PITI because taxes and insurance are unavoidable housing costs that affect whether you can afford a home. Judging affordability on principal and interest alone would understate your obligation. Lenders compare your PITI to your income through debt-to-income ratios to decide how much they will lend.
Does PITI include PMI or HOA fees?
This calculator's PITI covers principal, interest, taxes, and insurance only. If your down payment is under 20 percent, you may also pay private mortgage insurance, and some homes have homeowners association dues. Both add to your real monthly cost but are separate from PITI, so budget for them additionally where they apply.
What is escrow?
Escrow is an account your lender uses to collect the tax and insurance portions of your PITI each month and then pay the property tax and insurance bills when they come due. This spreads those large periodic bills into manageable monthly amounts and ensures they are paid on time, protecting both you and the lender.