Mortgage Calculator — full monthly payment with PITI

Set the home price, down payment, rate, term and your local property tax and insurance rates. The calculator shows the full monthly payment broken down across all four components.

What is PITI?

PITI stands for Principal, Interest, Tax, Insurance — the four components of a typical monthly mortgage payment. The principal-and-interest part is what your bank quotes you; the tax and insurance parts are what your accountant adds when computing what you actually pay every month.

This calculator shows all four. Property tax is computed as an annual percentage of the home's appraised value (varies by jurisdiction — 1% is a common US benchmark, 0.5-1.5% is typical in most European countries). Home insurance is similarly an annual percentage; check your local market for the right number. The sum is the realistic 'all-in' monthly cost of homeownership before utilities and maintenance.

How to use this tool

Pick your currency, then set the home price and your down payment percentage. The down payment amount is shown in the label so you can sanity-check it.
Set the annual interest rate (use the rate your lender quotes), the term in years (15, 20, 25, 30 are common), and your local property tax and insurance rates as a percentage of home value.
Read the monthly payment, the breakdown bar (blue = P&I, amber = tax, green = insurance), and the bottom block of summary figures including total interest and total cost over the full term.

Frequently asked questions

Why does the breakdown matter?

Because two mortgages with the same P&I can have wildly different monthly costs once tax and insurance are added. A US house with a 2% property tax rate and a French house with a 0.5% rate look very different on the all-in number even at the same purchase price.

What's a typical down payment?

20% is a common US convention to avoid private mortgage insurance (PMI). In Europe, 10-20% is typical for first-time buyers. Some markets (UK, Netherlands) allow lower down payments with offsetting fees. Check your local market — and your lender's PMI policy.

Are taxes and insurance always escrowed?

In the US, lenders typically escrow taxes and insurance into the monthly payment automatically. In most of Europe, you pay taxes and insurance separately on their own schedule. The calculator gives you the all-in monthly cost regardless of how it's actually billed.

Does it model adjustable-rate mortgages?

No. This calculator assumes a fixed rate over the full term. ARM mortgages have a fixed period (typically 5, 7 or 10 years) followed by an annual adjustment within a band. For ARMs, run the calculator twice (initial rate and worst-case post-reset rate) to bracket the range.

How accurate are the tax and insurance percentages?

They're rough but realistic. US property tax averages ~1.1% nationally but ranges from 0.3% (Hawaii) to 2.5% (New Jersey). Home insurance averages ~0.4% but varies with hazard exposure. For a real purchase, get specific quotes; for shopping comparison, the percentages are good enough.

Common use cases

Where running the full PITI matters before signing.

Pre-approval reality check

Banks pre-approve based on debt-to-income; they don't always include taxes and insurance in 'monthly payment' figures. Run the all-in number to see what your real cash-flow obligation will be.

House-shopping comparison

Two houses at the same price in different states can have a $400/month difference in property tax. Compare PITI, not just sticker price, when shortlisting.

Refinancing decision

Refinancing only changes P&I; tax and insurance stay the same. Run before-and-after to see how much of the savings is real versus hidden by the fixed components.

Rent-vs-buy analysis

Compare PITI plus maintenance estimates (~1% of home value per year) to your current rent. This calculator gives the PITI half; a maintenance reserve is on you to estimate.

Tips and shortcuts

Habits that prevent mortgage surprises.

Always include tax and insurance in the budget

Lenders qualify you on debt-to-income, not on what you can comfortably afford. The full PITI is what hits your bank account every month; budget around that, not the P&I figure.

Keep down payment ≥ 20% if possible

In US markets, 20% down avoids PMI. In Europe, lower down payments often mean a higher interest rate. Even when not strictly required, a higher down payment unlocks better rates.

Term length is a budget lever

Going from 30 years to 15 years roughly halves the total interest paid but raises the monthly payment by ~40%. Pick the shortest term you can afford comfortably; the savings are enormous over the life of the loan.

Re-run after rate moves

Mortgage rates move 0.25-0.50 points within a few weeks during volatile cycles. A 0.5-point move on a 30-year loan changes the monthly payment by ~5% — meaningful when you're at the edge of affordability.