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Mortgage payment calculator (PITI + PMI)

Quick answer

Your monthly mortgage payment (PITI) is principal and interest plus property taxes and homeowners insurance, plus PMI if you put down less than 20% on a conventional loan and any HOA dues. Enter the home price, down payment, rate and term to see your full payment and how your balance falls over time.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Estimated monthly payment

$3,102

Loan amount $360,000

Principal & interest
$2,439
Property taxes
$333
Homeowners insurance
$150
PMI
$180
HOA
$0
Total interest over loan
$517,952

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Amortization: balance, principal and interest by year

How is a mortgage payment calculated?

Principal and interest use the standard amortization formula: M = P × r(1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r the monthly rate and n the number of payments. Taxes, insurance, PMI and HOA are then added.

What is PITI?

  • Principal — repays the loan balance.
  • Interest — the lender's charge for borrowing.
  • Taxes — property taxes, usually collected in escrow.
  • Insurance — homeowners insurance (and flood insurance if required).

Frequently asked questions

This calculator adds estimated PMI (adjustable) when your down payment is below 20%. FHA loans use MIP instead — see our FHA calculator.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.