Mortgage Calculator with Taxes and Insurance
Calculate complete mortgage payments including principal, interest, taxes, insurance, and PMI. Get total monthly housing costs.
How it works
PITI (Principal, Interest, Taxes, Insurance) represents your total monthly housing payment. Lenders use this to qualify borrowers and often require escrow accounts.
Example
$400K home, $80K down, 6% rate: $1,918 P&I + $500 taxes + $100 insurance + $160 PMI = $2,678 total monthly payment.
FAQ
What is PITI and why is it important?
PITI stands for Principal, Interest, Taxes, and Insurance - the four main components of your monthly housing payment. Lenders use PITI to determine affordability.
Do I have to pay taxes and insurance monthly?
Most lenders require escrow accounts for taxes and insurance, collecting 1/12 each month. You can sometimes waive escrow with 20%+ down payment.
How is PMI calculated?
PMI typically ranges from 0.3% to 1.5% of loan amount annually, depending on down payment size, credit score, and loan program.
When can I remove PMI?
Conventional loan PMI can be removed at 80% LTV through payments or appreciation. FHA MIP removal rules vary by down payment and loan date.
Are property taxes deductible?
Yes, property taxes are generally deductible up to $10,000 annually (SALT cap). Mortgage interest may also be deductible.