Mortgage Calculator with Taxes and Insurance (Full PITI)
Most online calculators show only principal and interest (P&I). But your actual mortgage payment is PITI — Principal, Interest, Taxes, Insurance. Skipping T+I undercounts your real cost by $300-800/month for typical homes. Here's how to estimate full PITI with our calculator plus a few quick lookups.
Use the calculator
Mortgage Calculator
Step-by-step
- 1
Get your P&I from the calculator
Use the Mortgage Calculator with home price, down payment, rate, and term. The result is principal + interest only.
- 2
Look up property tax rate
Search "[your county] property tax rate." Most US counties charge 0.5-2.5% of assessed value per year. Multiply home price × tax rate ÷ 12 = monthly tax.
- 3
Estimate homeowners insurance
Average US is $1,400-2,000/year for a $400k home. Higher in FL/CA/TX (hurricanes, wildfires, hail). Divide annual quote by 12.
- 4
Add PMI if down payment < 20%
PMI runs 0.5-1.5% of the loan annually. On a $320k loan, that's $1,600-4,800/yr or $133-400/mo until you reach 20% equity.
- 5
Add HOA if applicable
Condos and many planned communities charge $100-500/mo HOA fees. Add directly to the monthly total.
💡 Tips
- Lenders escrow taxes and insurance — they collect 1/12 of the annual amount with each mortgage payment, then pay the bills for you.
- Property tax is reassessed when you buy. Your tax may differ from the seller's old bill if the home value has changed.
- Shop home insurance every 2-3 years — same company, same coverage, premiums creep up. Switching saves $200-600/yr typically.
FAQ
Why is my actual mortgage payment higher than the calculator?
The calculator shows P&I only. Your servicer is collecting T+I escrow on top, which is what makes the total higher.
Can I pay taxes and insurance separately?
Some lenders allow it if you have 20%+ equity. Most loans below that require escrow. Even if optional, escrow protects you from forgetting a $4,000 tax bill in November.
Does PMI ever go away?
Yes. Federal law requires lenders to drop PMI automatically once your loan balance hits 78% of original value, or earlier on request at 80%.