Calculate PITI payments, PMI, and determine home affordability with detailed analysis
Calculate total monthly payment including Principal, Interest, Taxes, and Insurance.
Example: $400K home with 20% down = $2,847/month PITI
Automatic PMI calculation for down payments less than 20%.
Benefit: See how PMI affects your monthly payment
Determine maximum home price based on your income and debts.
Guidelines: 28% housing ratio, 36% total debt ratio
Includes HOA fees, property taxes, and insurance estimates.
Use case: Get the full picture of homeownership costs
PITI stands for Principal, Interest, Taxes, and Insurance - the four main components of your monthly mortgage payment.
PMI (Private Mortgage Insurance) is required when your down payment is less than 20% of the home's purchase price.
Generally, your housing costs shouldn't exceed 28% of your gross monthly income, and total debts shouldn't exceed 36%.
Property taxes vary by location. The calculator estimates based on your input, but actual rates depend on local tax assessments.
15-year mortgages have higher monthly payments but lower total interest. 30-year mortgages have lower payments but more total interest.
20% down avoids PMI and reduces monthly payments, but programs exist for as little as 3% down for qualified buyers.
Consider maintenance (1-3% of home value annually), utilities, closing costs, and potential HOA fees.
Higher rates increase monthly payments significantly. A 1% rate increase can add $200+ to monthly payments on a $400K loan.
Yes, PMI can typically be removed when you reach 20% equity in your home through payments or appreciation.
This calculator works for conventional loans. FHA, VA, and USDA loans have different requirements and fees.