PITI stands for Principal, Interest, Tax, and Insurance - the four components of a typical monthly mortgage payment when an escrow account is used.

When is PMI required?

Private Mortgage Insurance is generally required on conventional loans when the down payment is less than 20 percent of the home price. PMI typically drops off automatically once the loan balance reaches 78 percent of original value.

How much house can I afford?

A common guideline is that PITI plus other housing costs should not exceed 28 to 35 percent of gross monthly income.

Mortgage Payment Calculator

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Mortgage Payment Calculator

Practical financial planning, tax planning, retirement, and investing insights from the My 360 Wealth Management team.

Your inputs

Calculates monthly principal & interest, plus estimated tax, insurance, and PMI.

Home price

Down payment

Loan term

yrs

Interest rate (%)

Annual property tax (%)

Annual homeowners insurance

Annual PMI (% of loan, if down < 20%)

Monthly payment

—

Total PITI (principal, interest, tax, insurance).

Principal & interest—

Property tax—

Homeowners insurance—

PMI —

Total interest over loan—

For illustration only. Does not include HOA dues, closing costs, or alternative mortgage insurance structures.

About the Mortgage Payment Calculator

This calculator estimates your full monthly mortgage payment — principal and interest, property tax, homeowners insurance, and PMI when applicable. The total is commonly called PITI.

What this calculator does not include

HOA fees or community assessments
Closing costs (typically 2-5% of loan amount)
Mortgage interest tax deduction
FHA or VA loan-specific insurance structures
Adjustable-rate mortgage (ARM) features

How to use it

Try different down payment amounts to see the impact on PMI — reaching 20% equity removes the PMI line entirely. Also compare 15-year vs. 30-year terms: the 15-year payment is higher, but total interest paid is dramatically lower.

Talk to a professional advisor about the bigger picture

A home purchase often has implications beyond the monthly payment — cash reserves, retirement contributions, and tax planning. My 360 Wealth Management Group advisors are available for a complimentary conversation.

Schedule a Consultation

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment, tax, or legal advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.