Calculate your full monthly mortgage payment including principal, interest, property tax, homeowners insurance, PMI, HOA fees, and 2026 tax deduction estimates.
Your actual monthly mortgage payment is much more than just principal and interest. The full PITI payment includes Property Tax, Insurance, and potentially PMI (Private Mortgage Insurance) and HOA fees. These additional costs can add 30-50% on top of the base P&I payment, and many first-time homebuyers are surprised by the difference.
Understanding the true cost of homeownership also requires factoring in the mortgage interest tax deduction. For homeowners who itemize, the ability to deduct mortgage interest, property taxes, and other itemized deductions can reduce the effective monthly cost significantly — though the 2026 standard deduction is high enough that many homeowners still benefit more from taking the standard deduction.
This comprehensive PITI calculator models every component of your monthly housing payment, computes a planning estimate for the tax benefit of itemizing, calculates your DTI (debt-to-income) ratio for qualification purposes, and provides an amortization schedule showing how your equity builds over time. It is not a full tax return and does not model every federal deduction or credit.
A mortgage payment includes more than principal and interest. This calculator shows the full monthly housing cost, including taxes, insurance, PMI, and HOA fees, so you can compare homes, estimate affordability, and see how tax deductions change the effective payment. The tax section is a planning estimate based on the 2026 standard deduction and the itemized deductions you enter, not a substitute for a full return.
Monthly P&I = L × [r(1+r)^n] / [(1+r)^n − 1] where L = loan amount, r = monthly rate, n = total months Monthly Property Tax = Home Price × Tax Rate / 12 Monthly PMI = Loan × PMI Rate / 12 (if LTV > 80%) Total PITI = P&I + Property Tax + Insurance + PMI + HOA Tax deduction estimate = max(0, mortgage interest + property tax + other itemized deductions − 2026 standard deduction) × marginal tax rate
Result: $3,315/month total PITI
On a $400K loan at 6.75%: P&I is about $2,595, property tax is about $521/mo, insurance is $200/mo, and there is no PMI with 20% down, for roughly $3,315/month of housing cost before tax effects. With $10,000 in other itemized deductions and the 2026 MFJ standard deduction of $32,200, total itemized deductions are about $43,250. That is roughly $11,050 above the standard deduction, which can create about $2,431 of tax savings at a 22% marginal rate. The result is still a planning estimate, not a full federal return.
Use the full PITI figure when comparing loan offers or deciding how much house you can comfortably support each month.
Property tax, insurance, PMI, and escrow requirements can move the payment a lot more than small rate changes. Review the local tax bill and your loan estimate before treating the payment as final.
Last updated:
This page calculates principal-and-interest from the loan amount, rate, and term, then adds property tax, homeowners insurance, PMI, and HOA fees to build a monthly PITI-style housing cost. It also estimates a simple first-year tax benefit by comparing mortgage interest plus property tax plus other entered itemized deductions against the 2026 standard deduction for the selected filing status, then applying the user's marginal bracket to the excess itemized amount.
The page is a planning worksheet, not a full tax return or loan estimate. It does not model every mortgage cost, every itemized-deduction limitation, or every state and local housing rule, so the result should be treated as a directional estimate only.
PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a typical monthly mortgage payment. Lenders use PITI to calculate your DTI ratio for qualification.
Private Mortgage Insurance is required when your down payment is less than 20% (LTV > 80%). It typically costs 0.3-1.5% of the loan annually and can be removed once LTV reaches 78-80%.
Yes, up to $750,000 of mortgage debt ($375K if married filing separately) for loans taken after December 15, 2017. However, you must itemize deductions — if your standard deduction is higher, the mortgage interest deduction provides no additional benefit.
For 2026, the standard deduction is $16,100 for single filers and married filing separately, $32,200 for married filing jointly and surviving spouses, and $24,150 for head of household.
Most conventional loans require a DTI under 43%, though some programs accept up to 50%. FHA loans allow up to 57% in some cases. Lower DTI gives you better rates and more choices.
If you have an escrow account (required for most loans with < 20% down), yes — your lender collects property tax monthly and pays it when due. Otherwise you pay taxes separately.
Budget 1-3% of home value annually for maintenance and repairs. So a $400K home needs $4,000-12,000/year in maintenance plus any utility differences from your previous housing.