Free calculator · Personal Finance
Mortgage Payment (PITI)
Calculates the full monthly mortgage payment, principal and interest plus property tax and homeowners insurance, commonly called PITI. Inputs are the home price, down payment percentage, interest rate, loan term, an annual property tax rate, and the annual insurance premium.
By Devon Coombs, CPA, MBA · Teaching Professor of Finance, Santa Clara University · Reviewed August 2026
Interactive Tool
Mortgage Payment (PITI)
Full monthly payment
$2,812.94
principal + interest + taxes + insurance
Principal & interest
$2,275.44
30-year amortization
Property tax
$412.50
1.10% of price ÷ 12
Insurance
$125.00
$1,500 ÷ 12
Down payment
$90,000
cash at closing
Total interest over the loan
$459,160
on a $360,000 loan held full term
Loan balance by year (scheduled payments)
P&I = $360,000 × i(1 + i)^360 ÷ ((1 + i)^360 − 1) = $2,275.44, where i = 6.500%/12
PITI omits HOA dues. The PMI estimate applies while the down payment is under 20% and generally falls away once the balance reaches 80% of the original value; the exact rate depends on credit and loan type.
Learn the concept
This calculator comes from the free Corporate Finance: The 10 Laws of Finance course, where the concept is taught with readings, worked examples, and practice questions.
Precomputed reference tables
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Built by Devon Coombs, CPA, MBA, Teaching Professor of Finance at Santa Clara University.