Mortgage Calculator

Estimate your monthly mortgage payment.

Q: What does PITI stand for?

PITI is the four parts of a typical monthly mortgage payment: Principal, Interest, Taxes, and Insurance. Lenders use the PITI total when qualifying you for a loan, since it reflects your real monthly housing cost.

Q: When do I have to pay PMI?

Private mortgage insurance is generally required on conventional loans when your down payment is less than 20% of the purchase price. PMI typically runs 0.3%-1.5% of the loan amount per year and drops off automatically once you reach 22% equity.

Q: Is this estimate the same as a pre-approval?

No. This calculator gives an instant payment estimate based on the numbers you enter. A real pre-approval factors in your credit score, income documentation, debt-to-income ratio, and the lender's specific underwriting rules.

Adjust price, down payment, rate, and term to see your full PITI — principal, interest, taxes, and insurance — in real time.

Your numbers

Home price

Down payment

Interest rate (%)

Loan term

Annual property tax

Annual home insurance

Include PMI (if down payment < 20%)

Monthly principal & interest

Total monthly: $0

Loan breakdown over term

Principal (loan) $0
Total interest paid $0
Property tax $0
Home insurance $0
PMI None

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FAQs

Mortgage calculator — common questions

What does PITI stand for?

PITI is the four parts of a typical monthly mortgage payment: Principal, Interest, Taxes, and Insurance. Lenders use the PITI total when qualifying you for a loan, since it reflects your real monthly housing cost.

When do I have to pay PMI?

Private mortgage insurance is generally required on conventional loans when your down payment is less than 20% of the purchase price. PMI typically runs 0.3%-1.5% of the loan amount per year and drops off automatically once you reach 22% equity.

Is this estimate the same as a pre-approval?

No. This calculator gives an instant payment estimate based on the numbers you enter. A real pre-approval factors in your credit score, income documentation, debt-to-income ratio, and the lender's specific underwriting rules.