Mortgage Payment Calculator
The real monthly cost of a mortgage — including property tax and insurance.
Total monthly payment (PITI):
Principal & interest:
Property tax (monthly):
Insurance (monthly):
Total paid over full term:
Balance and cumulative interest
How to use this calculator
Enter the home price, down payment, rate, term, property tax percentage and yearly insurance, then press Calculate. Your full PITI payment (principal, interest, taxes, insurance) appears with a balance chart.
Worked example
On a $320,000 home with a $64,000 down payment, the $256,000 loan at 6.5% over 30 years has a principal-and-interest payment around $1,620. Add property tax of about $293 a month and insurance of roughly $117, and the true monthly housing cost is near $2,030 - the PITI number this tool returns.
What the result means
PITI stands for principal, interest, taxes and insurance - the full payment a lender qualifies you on. Buyers who shop on principal and interest alone are routinely surprised that tax and insurance add hundreds to the real monthly cost.
Why taxes and insurance belong in the number
- Property tax is usually escrowed with the mortgage and paid from your monthly bill.
- Homeowners insurance is required by your lender for the life of the loan.
- High-tax areas can push the true payment 15-25% above the P&I alone.
Frequently asked questions
Why do two calculators give different payments?
This one includes tax and insurance; a plain payment calculator does not. Compare like with like by adding your own tax and insurance estimates.