What is PITI?
PITI refers to principal, interest, taxes, and insurance. It is often used as a shorthand for a broader housing payment than principal and interest alone.
How to Use Mortgage Calculator
Step 1: Home Price & Down Payment
Enter home purchase price and down payment percentage or dollar amount.
Step 2: Interest Rate & Term
Select loan term (15 or 30 years) and annual interest rate.
Step 3: Taxes & Insurance
Optionally add property tax rates and insurance fees.
Step 4: Review Payment
View full monthly payment breakdown and total interest paid.
Key Features & Capabilities
- Principal & Interest calculation with monthly amortization table
- Property tax, HOA fees, and Homeowners Insurance add-ons
- Interactive breakdown pie chart simulation
Frequently Asked Questions
Why is the monthly payment higher on a shorter loan term?
The same principal is being repaid over fewer scheduled payments, so each payment usually contains more principal.
Does this calculator include every cost of buying a home?
No. Actual housing costs can include items such as closing costs, maintenance, insurance changes, taxes, HOA fees, and lender-specific charges that are outside a simple estimate.
What is PMI?
Private Mortgage Insurance (PMI) is usually required on conventional loans when down payment is less than 20% of the purchase price.
Related Tools
- Loan & Mortgage Calculator — Calculate monthly loan payments, total interest costs, and amortization schedules.
- EMI Calculator — Calculate Equated Monthly Installments (EMI) for personal, car, or home loans.
- Simple Interest Calculator — Calculate simple interest earned or paid over time using standard I = P × r × t.