Mortgage Payment Calculator
Calculate monthly mortgage payments including principal, interest, taxes, and insurance (PITI). Free mortgage calculator with customizable inputs.
How it works
Monthly P&I payment = Loan Amount × [Monthly Rate × (1 + Monthly Rate)^Total Months] / [(1 + Monthly Rate)^Total Months - 1]. Add taxes, insurance, and HOA for total PITI payment.
Example
$400,000 home, 20% down, 7% rate, 30 years = $2,129/month P&I.
FAQ
What is PITI in mortgage payments?
PITI stands for Principal, Interest, Taxes, and Insurance - the four main components of a monthly mortgage payment.
How is monthly mortgage payment calculated?
Monthly P&I payment = Loan Amount × [Rate × (1 + Rate)^Term] / [(1 + Rate)^Term - 1], where Rate is monthly interest rate and Term is total months.
What down payment percentage should I use?
Conventional loans often require 20% down to avoid PMI, but options exist for 5-10% down. FHA loans allow as low as 3.5% down payment.
Are property taxes and insurance included in mortgage payments?
Yes, most lenders require taxes and insurance to be escrowed, meaning they're included in your monthly payment and held in an escrow account.