Mortgage PITI Calculator
Your true monthly mortgage cost is more than just principal and interest. Enter your loan details, home value, property tax rate, insurance, and PMI to see the full PITI payment, plus the complete amortization schedule showing exactly when PMI drops off.
Monthly PITI payment
$2,388.12
PMI drops off in month 116 — payment falls to $2,189.79/mo
Monthly breakdown
Total interest
$357,125
Total PMI paid
$22,808
Balance over time
Amortization schedule (yearly)
| Year | P&I | Tax | Ins | PMI | Balance |
|---|---|---|---|---|---|
| 1 | $1,769.79 | $300.00 | $120.00 | $198.33 | $276,870 |
| 2 | $1,769.79 | $300.00 | $120.00 | $198.33 | $273,531 |
| 3 | $1,769.79 | $300.00 | $120.00 | $198.33 | $269,968 |
| 4 | $1,769.79 | $300.00 | $120.00 | $198.33 | $266,167 |
| 5 | $1,769.79 | $300.00 | $120.00 | $198.33 | $262,111 |
| 6 | $1,769.79 | $300.00 | $120.00 | $198.33 | $257,783 |
| 7 | $1,769.79 | $300.00 | $120.00 | $198.33 | $253,165 |
| 8 | $1,769.79 | $300.00 | $120.00 | $198.33 | $248,239 |
| 9 | $1,769.79 | $300.00 | $120.00 | $198.33 | $242,982 |
| 10 | $1,769.79 | $300.00 | $120.00 | $0.00 | $237,373 |
| 11 | $1,769.79 | $300.00 | $120.00 | $0.00 | $231,389 |
| 12 | $1,769.79 | $300.00 | $120.00 | $0.00 | $225,004 |
| 13 | $1,769.79 | $300.00 | $120.00 | $0.00 | $218,191 |
| 14 | $1,769.79 | $300.00 | $120.00 | $0.00 | $210,922 |
| 15 | $1,769.79 | $300.00 | $120.00 | $0.00 | $203,166 |
| 16 | $1,769.79 | $300.00 | $120.00 | $0.00 | $194,890 |
| 17 | $1,769.79 | $300.00 | $120.00 | $0.00 | $186,061 |
| 18 | $1,769.79 | $300.00 | $120.00 | $0.00 | $176,640 |
| 19 | $1,769.79 | $300.00 | $120.00 | $0.00 | $166,588 |
| 20 | $1,769.79 | $300.00 | $120.00 | $0.00 | $155,863 |
| 21 | $1,769.79 | $300.00 | $120.00 | $0.00 | $144,419 |
| 22 | $1,769.79 | $300.00 | $120.00 | $0.00 | $132,210 |
| 23 | $1,769.79 | $300.00 | $120.00 | $0.00 | $119,182 |
| 24 | $1,769.79 | $300.00 | $120.00 | $0.00 | $105,282 |
| 25 | $1,769.79 | $300.00 | $120.00 | $0.00 | $90,452 |
| 26 | $1,769.79 | $300.00 | $120.00 | $0.00 | $74,628 |
| 27 | $1,769.79 | $300.00 | $120.00 | $0.00 | $57,744 |
| 28 | $1,769.79 | $300.00 | $120.00 | $0.00 | $39,729 |
| 29 | $1,769.79 | $300.00 | $120.00 | $0.00 | $20,508 |
| 30 | $1,769.79 | $300.00 | $120.00 | $0.00 | $0 |
Compare scenarios
Run the same calculation with two or three input sets side by side. Differences are highlighted; every number comes from the same tested formula as the calculator above.
| Input | Scenario A | Scenario B |
|---|---|---|
| Loan Amount | ||
| Home Value | ||
| Annual Rate Pct | ||
| Term Years | ||
| Annual Property Tax Rate Pct | ||
| Annual Insurance Dollars | ||
| Pmi Rate Pct |
How it works
The P&I component uses the standard amortization formula: payment = L × r / (1 − (1 + r)⁻ⁿ), where L is the loan amount, r the monthly rate (APR ÷ 12), and n the number of months. This produces the fixed principal-and-interest portion.
Property tax is calculated as an annual percentage of your home's value divided by 12. Homeowners insurance is entered as an annual dollar amount and divided by 12. Both are held constant for the life of the loan (no appreciation model).
PMI (private mortgage insurance) is charged at an annual rate applied to the original loan balance, divided by 12. It is removed once the remaining balance falls to or below 80% of your home's value — the standard 20% equity threshold. The calculator shows you exactly which month PMI drops off.
Frequently asked questions
What does PITI stand for?+
PITI stands for Principal, Interest, Taxes, and Insurance — the four components that make up a complete monthly mortgage payment. Lenders use PITI (not just P&I) when calculating your debt-to-income ratio, so knowing the full amount is essential for budgeting and qualifying. This calculator is for estimation only; consult a licensed mortgage professional for formal pre-approval.
When does PMI go away?+
PMI is automatically removed once your loan balance drops to 80% of the original home value, which happens through regular amortization (and any overpayments). You may also request cancellation at 80% LTV under the Homeowners Protection Act. The month PMI drops off is shown in the results above.
Why is my actual monthly payment different from this estimate?+
This calculator uses a fixed annual tax rate and insurance premium that do not change over time. In practice, property taxes and insurance premiums are re-assessed yearly by your lender's escrow department. The P&I figure is accurate for fixed-rate loans; adjustable-rate mortgages will differ after the initial fixed period.
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