Mortgage Calculator with Taxes & Insurance
Full PITI breakdown: principal, interest, property tax, insurance, PMI and HOA in one monthly payment.
PMI typical-estimate bands (CFPB consumer guidance) last updated · reference source
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What this tool does
PITI stands for the four parts of a typical mortgage payment: Principal, Interest, Taxes and Insurance. This calculator builds the whole payment the way your servicer does — the amortized principal-and-interest payment, a monthly slice of the annual property tax bill, a monthly slice of the homeowners insurance premium — and then layers on the two add-ons many listings hide: PMI when your down payment is under 20%, priced from a clearly labelled typical-estimate band for your loan-to-value, and monthly HOA dues. The breakdown panel shows every component separately so you can see exactly which slice you can influence: a bigger down payment shrinks both the loan payment and PMI, while tax and insurance follow the home, not the loan.
How to use the Mortgage Calculator with Taxes & Insurance
- Enter the home price and down payment; under 20% down triggers the PMI estimate.
- Enter the interest rate and term in years.
- Enter property tax as a percent of the home's value per year.
- Enter the yearly insurance premium and any monthly HOA dues.
- Compare the total monthly payment with the principal & interest line to see the escrow load.
- Use the PMI Calculator to see month-by-month when PMI drops off.
Formula
PITI = M + (Price × Tax% ÷ 12) + Insurance ÷ 12 + PMI + HOA; PMI ≈ Loan × BandRate(LTV) ÷ 12
- M
- Monthly principal & interest from the amortization formula
- LTV
- Loan-to-value = loan amount ÷ home price × 100
- BandRate
- Typical-estimate annual PMI rate for the LTV band (see the data note)
- Tax%
- Annual property tax as a percent of home value
PMI rates here are typical published estimates by LTV band, not a quote: insurers set the real premium from credit score, term and coverage depth. PMI is charged on the original loan amount and, under the Homeowners Protection Act, can be cancelled at 80% LTV on request and ends automatically at 78% of the original value on the original schedule.
Worked example
A $400,000 home with 10% down: the $360,000 loan at 6.5% for 30 years costs $2,275.44 of principal & interest, plus $366.67 tax, $150 insurance and about $105 of PMI at the 90% LTV typical band (0.35%/yr) — a total monthly payment of roughly $2,897.11, of which $621.67 is tax, insurance and PMI rather than loan repayment.
Inputs
- Home price$400000
- Down payment$40000
- Interest rate (%)6.5 %
- Loan term (years)30
- Property tax (% of home value / year)1.1 %
- Home insurance (per year)$1800
- HOA dues (per month, optional)$0
Result
- Total monthly payment (PITI + PMI + HOA)$2,897.11
- Monthly principal & interest$2,275.44
- Monthly property tax$366.67
- Monthly insurance$150.00
- Monthly PMI (typical estimate)$105.00
- Loan amount$360,000.00
- Total interest$459,160.16
Typical PMI annual rates by loan-to-value (estimates)
| LTV band | Typical range | Rate used here |
|---|---|---|
| Up to 85% | 0.15–0.30% | 0.20% |
| Up to 90% | 0.25–0.50% | 0.35% |
| Up to 95% | 0.40–0.85% | 0.55% |
| Up to 97% | 0.55–1.15% | 0.90% |
Results explained
- Total monthly payment (PITI + PMI + HOA)
- Everything collected with the monthly payment — the number to budget against take-home pay.
- Monthly principal & interest
- The amortized loan payment alone.
- Monthly property tax
- Annual tax (price × rate) spread over 12 escrow deposits.
- Monthly insurance
- Yearly homeowners premium spread over 12 months.
- Monthly PMI (typical estimate)
- Private mortgage insurance estimate while LTV is above 80%; it falls away at 80%/78% LTV.
- Total interest
- Interest over the full term with no extra payments.
Frequently asked questions
Principal, Interest, Taxes and Insurance — the four components most servicers collect in one monthly payment. The tax and insurance portions sit in an escrow account until the bills come due.
Roughly 0.2%–0.9% of the loan amount per year depending on LTV, divided by 12. On the $360,000 example loan at 90% LTV the typical estimate is about $105 a month; at 95% LTV the 0.55% band gives about $165 a month.
Lenders collect an initial escrow cushion of up to two months of tax and insurance at closing, and they re-estimate escrows annually. The monthly ongoing amounts here match the steady-state escrow deposit, not the closing-day collection.
You can request cancellation when the balance reaches 80% of the original value, and the servicer must terminate it automatically at 78% on the original amortization schedule (Homeowners Protection Act), provided payments are current.
On the property's assessed value — this tool uses the purchase price as the estimate base. A $400,000 home at a 1.1% rate owes $4,400 a year regardless of how much you borrowed.
Most do, and lenders often require it under 20% down. Some borrowers with larger down payments can waive escrow and pay tax and insurance bills directly, sometimes for a small fee or rate adjustment.