Loan Details

$
$
%
%

Monthly Estimates (PITI)

$
US avg ~1.1% of home value/yr
$
%/yr

Results

$0
Total Monthly Payment (PITI)
Principal & Interest$0/mo
Property Tax$0/mo
Homeowner's Insurance$0/mo
PMI$0/mo
Loan Amount$0
Total Interest Paid$0
Total Cost of Home$0

Amortization Schedule

What is the Mortgage Payment Calculator?

This calculator goes beyond simple principal and interest to show you the true PITI payment โ€” the number lenders actually use to qualify buyers. Enter the home price, down payment, loan term, and interest rate, then add your estimated property taxes, homeowner's insurance, and PMI rate (if applicable) to see the complete monthly payment picture. The full amortization schedule shows how each payment splits between principal and interest year by year, and exactly when your balance will reach zero.

Understanding PITI

  • Principal โ€” reduces your loan balance with every payment
  • Interest โ€” the lender's fee, front-loaded in early years
  • Taxes โ€” property taxes collected monthly into escrow (usually 1โ€“1.5% of value per year)
  • Insurance โ€” homeowner's insurance (~0.3โ€“1% of value per year) + PMI if down payment <20%

The 28/36 Affordability Rule

Lenders typically want your total PITI payment to be no more than 28% of gross monthly income, and total monthly debt (PITI + car loans + student loans + credit cards) no more than 36%. Use this calculator to help buyers understand what price range fits their budget before they fall in love with a home.

Why Use tools999.com?

100% free, no account required. All calculations happen in your browser โ€” no financial data is ever stored or shared.

Frequently Asked Questions

PITI = Principal, Interest, Taxes, Insurance. These are the four components of a complete monthly mortgage payment. Lenders use total PITI to qualify buyers, not just the principal and interest payment.

The 28/36 rule: your monthly PITI should not exceed 28% of gross monthly income, and total monthly debt should not exceed 36%. With $6,000/month gross income, target a PITI of $1,680 or less.

PMI automatically cancels when your loan balance reaches 78% of the original purchase price. You can request cancellation at 80% LTV with timely payments. If your home has appreciated, you may eliminate PMI sooner with a new appraisal.

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