Mortgage PITI
Principal and interest are the headline. Taxes, insurance, and PMI are the payment.
All-in monthly
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What changes at 20% down
The PMI line vanishes — typically $30–$90 per month per $100,000 borrowed — and often the rate improves slightly with lower loan-to-value. Watch both numbers move together as you raise the down-payment input past 20%.
PI = L × r ÷ (1 − (1 + r)⁻ⁿ) + tax/12 + ins/12 + PMI? Assumptions on the counter
- PMI modeled at 0.75%/yr of loan while down payment is under 20% — an estimate, striped accordingly.
- HOA dues, flood insurance, and closing costs are not included.
- Taxes entered flat; reassessments after purchase can raise them.
Questions people ask
What does PITI stand for?
Principal, Interest, Taxes, Insurance — the four parts of a full mortgage payment. Lenders qualify you against PITI, not the bare principal-and-interest figure, so budgeting anything less understates the commitment.
When do I pay PMI and how much is it?
Conventional loans charge private mortgage insurance when you put down under 20%. This calculator models it at 0.75% of the loan per year by default (adjustable in your lender's quote range of roughly 0.4%–1.5%). It drops off once you reach 20% equity.
Why is my escrow different from these tax and insurance inputs?
Escrow collects your actual billed amounts plus a cushion. Enter last year's property-tax bill and your quoted premium for the closest match.