Mortgage Calculator
Full PITI monthly payment, PMI, total interest, payoff date and amortization schedule.
Monthly payment (PITI)
23 574,56 $US
Principal & interest
20 074,56 $US
Total interest
2 417 894,80 $US
Payoff
July 2046
Monthly payment 23 574,56 $US
📐 About This Calculator
A mortgage payment combines principal & interest (P&I) with property tax, insurance, PMI and HOA — together called PITI. PMI applies when the down payment is under 20%.
P&I = L × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1]
L = loan amount = price − down payment
r = monthly rate, n = months
TOTAL MONTHLY = P&I + tax/12 + insurance/12 + PMI/12 + HOA
Variable Definitions:
- • L = Loan amount (price − down payment)
- • r = Monthly interest rate
- • n = Number of monthly payments
✅ Best used for:
- • Home-purchase budgeting
- • Comparing down-payment scenarios
- • Understanding PITI
⚠️ Limitations:
- • Assumes a fixed rate for the whole term
- • Excludes closing costs and rate changes
📖 How a Mortgage Payment is Calculated
What is PITI?
Principal, Interest, Taxes and Insurance — the four parts of a typical monthly housing payment. Lenders assess affordability on the full PITI, not just P&I.
PMI and the 20% rule
If your down payment is below 20% of the home price, lenders usually require Private Mortgage Insurance until you build enough equity.