Mortgage Calculator
Mortgage Calculator With Taxes and Insurance
Principal and interest is only part of a housing payment. Lenders underwrite PITI — and often PMI or HOA. This page starts with taxes and insurance visible so the total is closer to an escrowed payment.
Quick Answer: PITI is principal, interest, taxes, and insurance. On a $400,000 home with 20% down at 6.5% 30-year, P&I is about $2,023, tax at 1.2% is $400, insurance at 0.35% is $117, for about $2,540 a month before HOA.
PITI calculator
What this result means
Property tax is a local bill. A statewide average is a placeholder. New Jersey and Illinois buyers will underestimate if they leave 1.2% unchanged; some Sun Belt counties will overestimate.
Homeowners insurance varies with wind, wildfire, and replacement cost. Coastal and high-risk ZIP codes often exceed 0.35% of value.
If you put less than 20% down, PMI appears. That is not a tax, but it hits the same monthly budget.
Worked example
Worked example: $400,000, 10% down ($40,000), 6.5% 30-year. Loan $360,000. P&I ≈ $2,275. Tax $400. Insurance $117. PMI (illustrative 0.6% band) ≈ $180. Total ≈ $2,972. Compare with 20% down to see PMI drop off. Educational only.