Enter your home price, down payment, interest rate, and term. Every result updates instantly as you type or drag a slider — no button required. Add property taxes, insurance, and PMI to see your true total monthly cost.
What PITI means
Your full monthly payment has four parts: Principal (reduces your loan balance), Interest (cost of borrowing), Taxes (property taxes escrowed monthly), and Insurance (homeowners insurance + PMI). The chart above shows the exact split.
Mortgage formula
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ–1] where P = loan amount, r = monthly rate (annual ÷ 12), n = total payments.
Common questions
The 28% rule: keep housing costs under 28% of gross monthly income. At $80K/yr ($6,667/mo), aim for under $1,867/mo total payment.
Conventional loans: 620 minimum. FHA: 580+ with 3.5% down. Scores above 740 get best rates — even 0.5% lower saves $30K+ over 30 years.
Request removal at 20% equity. Lenders must cancel at 22% by law. Make extra principal payments to build equity faster.
No. Closing costs (2–5% of the loan) are a separate one-time expense. On a $280K loan, budget $5,600–$14,000 at closing.