Mortgage Calculator with Taxes & Insurance
Estimate your monthly PITI payment plus optional HOA and PMI.
| # | Date | P&I Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| Run a calculation to see the schedule. | |||||
Important Note : CFPB says private mortgage insurance may be required on a conventional loan with less than 20% down, protects the lender rather than the borrower, and can increase loan cost.
Use this Mortgage Calculator with Taxes and Insurance to estimate a monthly housing payment that includes principal, interest, property tax, homeowners insurance, optional HOA dues, and optional PMI. Enter the home price, down payment, interest rate, loan term, taxes, insurance, and fees to estimate your PITI-style payment, loan amount, cash to close, payoff date, and amortization preview.
This calculator is useful when you want a more realistic monthly mortgage estimate than principal and interest alone. It helps home buyers compare affordability, test down payment options, estimate taxes and insurance, and understand how different housing costs affect the total monthly payment.
Reviewed by: Ajax Calculator Team
Last updated: April 30, 2026
Method source: Standard fixed-rate mortgage amortization formulas using loan amount, annual interest rate, loan term, monthly principal-and-interest payment, property tax divided by 12, home insurance divided by 12, optional HOA, optional PMI, and closing-cost estimates.
Editorial standards: See our Editorial Policy for how we review and update calculator content.
What This Mortgage Calculator with Taxes and Insurance Does
This calculator estimates a mortgage payment that includes more than just the loan payment. It can calculate:
- Estimated loan amount after down payment
- Monthly principal and interest payment
- Monthly property tax estimate
- Monthly homeowners insurance estimate
- Optional monthly HOA dues
- Optional monthly PMI
- Total monthly payment estimate
- Estimated cash to close
- Estimated payoff date
- First-12-payments amortization preview
The calculator is designed for fixed-rate mortgage planning. It provides an estimate and does not replace a lender’s official Loan Estimate or Closing Disclosure.
What Is PITI?
PITI stands for principal, interest, taxes, and insurance. These are four common parts of a monthly mortgage-related housing payment.
- Principal is the part of the payment that reduces the mortgage balance.
- Interest is the cost of borrowing money from the lender.
- Taxes usually means property taxes charged by a local government.
- Insurance usually means homeowners insurance.
This calculator also allows you to add optional HOA dues and PMI, so the total monthly estimate can be shown as:
Total monthly payment = PITI + HOA + PMI
Mortgage Payment Formula
The monthly principal and interest payment for a fixed-rate mortgage is calculated with this standard amortization formula:
M = P × [r(1 + r)n] ÷ [(1 + r)n − 1]
Where:
- M = monthly principal and interest payment
- P = loan amount
- r = monthly interest rate, calculated as annual interest rate ÷ 12
- n = total number of monthly payments
The loan amount is usually calculated as:
Loan amount = Home price − Down payment
If you enter a loan amount manually, the calculator uses that loan amount instead of calculating it from home price and down payment.
Taxes, Insurance, HOA, and PMI Formula
The calculator adds monthly housing costs on top of the principal-and-interest payment:
Monthly property tax = Annual property tax ÷ 12
Monthly home insurance = Annual home insurance ÷ 12
Total monthly payment = Monthly P&I + monthly property tax + monthly insurance + monthly HOA + monthly PMI
Closing costs are used for the cash-to-close estimate only. If closing costs are entered as a percentage, the calculator treats the percentage as a share of the home price.
Estimated cash to close = Down payment + estimated closing costs
Worked Example
Suppose you are buying a home with these assumptions:
| Input | Example Value |
|---|---|
| Home price | $350,000 |
| Down payment | 20% |
| Loan amount | $280,000 |
| Interest rate | 6.5% |
| Loan term | 30 years |
| Annual property tax | $3,600 |
| Annual home insurance | $1,200 |
| Monthly HOA | $150 |
| Monthly PMI | $75 |
| Closing costs | 3% |
The down payment is:
$350,000 × 20% = $70,000
The estimated loan amount is:
$350,000 − $70,000 = $280,000
At 6.5% for 30 years, the estimated monthly principal and interest payment is about:
$1,769.79
Monthly property tax is:
$3,600 ÷ 12 = $300
Monthly homeowners insurance is:
$1,200 ÷ 12 = $100
The estimated total monthly payment is:
$1,769.79 + $300 + $100 + $150 + $75 = $2,394.79
If closing costs are 3% of the home price, estimated closing costs are:
$350,000 × 3% = $10,500
Estimated cash to close is:
$70,000 + $10,500 = $80,500
How to Use the Mortgage Calculator with Taxes and Insurance
- Enter the home price.
- Enter the down payment as a dollar amount or percentage.
- Use the loan amount override only if you already know the exact loan amount.
- Enter the annual interest rate.
- Enter the loan term in years, such as 15 or 30 years.
- Select the start date for the payoff-date estimate.
- Enter the annual property tax.
- Enter the annual home insurance.
- Enter monthly HOA dues if they apply.
- Enter monthly PMI if it applies.
- Enter closing costs as a dollar amount or percentage for the cash-to-close estimate.
- Click Calculate to see the payment breakdown and amortization preview.
How to Interpret the Results
Monthly P&I shows the estimated principal and interest payment for the mortgage loan.
Monthly property tax shows the annual property tax divided by 12.
Monthly insurance shows the annual homeowners insurance estimate divided by 12.
Monthly HOA shows the homeowners association dues you entered.
Monthly PMI shows the private mortgage insurance amount you entered.
Total monthly payment combines principal, interest, property tax, insurance, HOA, and PMI.
Loan amount shows the estimated amount borrowed after subtracting the down payment, unless you used the loan amount override.
Estimated cash to close combines the down payment and estimated closing costs.
Payoff date estimates when the loan may be paid off if regular monthly payments are made as scheduled.
Amortization preview shows the first 12 payments split between principal and interest. Taxes, insurance, HOA, and PMI are not included in the principal-and-interest amortization table.
Principal and Interest vs Total Monthly Payment
The principal-and-interest payment is only one part of the total monthly cost of owning a home. A mortgage payment that looks affordable based on P&I alone may become much higher after adding property taxes, insurance, HOA dues, and PMI.
| Payment Component | What It Means | Included in Loan Amortization? |
|---|---|---|
| Principal | Repays the loan balance | Yes |
| Interest | Cost of borrowing | Yes |
| Property tax | Local tax estimate | No |
| Home insurance | Homeowners insurance estimate | No |
| HOA | Homeowners association dues | No |
| PMI | Mortgage insurance estimate | No |
What Is PMI?
PMI stands for private mortgage insurance. It is often required on a conventional loan when the down payment is less than 20% of the home’s purchase price. PMI protects the lender if the borrower stops making payments. It does not protect the borrower from foreclosure or missed-payment consequences.
If your lender requires PMI, enter the monthly PMI amount in the calculator. If PMI does not apply, leave the field blank or enter zero.
What Are HOA Dues?
HOA dues are homeowners association fees. They may apply to condos, townhomes, planned communities, or some neighborhoods. HOA dues can cover shared services such as landscaping, common area maintenance, amenities, building insurance, or community management.
HOA dues are not part of the mortgage loan balance, but they can affect monthly affordability. If the home has HOA dues, include them in the calculator for a more realistic payment estimate.
What Are Closing Costs?
Closing costs are upfront costs paid when a home purchase or mortgage closes. They can include lender fees, appraisal fees, title fees, recording fees, prepaid taxes, prepaid insurance, escrow deposits, points, and other charges.
This calculator uses closing costs only to estimate cash to close. It does not add closing costs to the loan balance unless you manually include them in the loan amount.
Interest Rate vs APR
A mortgage interest rate is the rate used to calculate the monthly principal-and-interest payment. APR, or annual percentage rate, is broader and can include the interest rate plus certain mortgage costs such as points, broker fees, and other loan charges.
For this calculator, use the mortgage interest rate if you want a basic monthly payment estimate. If your lender provides both an interest rate and APR, the interest rate is usually the direct input for principal-and-interest payment math, while APR is useful for comparing broader loan costs.
Down Payment: Dollar Amount vs Percentage
The calculator lets you enter the down payment as either a dollar amount or a percentage.
Dollar down payment:
Loan amount = home price − down payment amount
Percentage down payment:
Down payment amount = home price × down payment percentage
For example, a 10% down payment on a $400,000 home is:
$400,000 × 10% = $40,000
The estimated loan amount would be:
$400,000 − $40,000 = $360,000
Mortgage Payment Example Table
| Home Price | Down Payment | Loan Amount | Rate | Term | Estimated P&I |
|---|---|---|---|---|---|
| $300,000 | 20% | $240,000 | 6.5% | 30 years | $1,516.96 |
| $350,000 | 20% | $280,000 | 6.5% | 30 years | $1,769.79 |
| $400,000 | 20% | $320,000 | 6.5% | 30 years | $2,022.61 |
| $350,000 | 10% | $315,000 | 6.5% | 30 years | $1,991.01 |
These examples show principal and interest only. Taxes, insurance, HOA, PMI, and closing costs are not included in the P&I amounts.
Example Total Monthly Payment Breakdown
| Component | Example Amount |
|---|---|
| Monthly principal and interest | $1,769.79 |
| Monthly property tax | $300.00 |
| Monthly homeowners insurance | $100.00 |
| Monthly HOA | $150.00 |
| Monthly PMI | $75.00 |
| Total monthly estimate | $2,394.79 |
Why Taxes and Insurance Matter
Property taxes and homeowners insurance can significantly change the monthly cost of homeownership. A loan payment may look affordable before these costs are added, but the total monthly payment may be hundreds of dollars higher after taxes and insurance.
Property taxes vary by location and assessed value. Homeowners insurance varies by home type, location, coverage level, claims history, and insurer. For a better estimate, use local tax data and an insurance quote instead of broad guesses.
What This Calculator May Not Include
This calculator includes optional property tax, home insurance, HOA, PMI, and closing costs, but real homeownership costs can include additional items such as:
- Flood insurance
- Condo master policy costs
- Special assessments
- Utilities
- Maintenance and repairs
- Mortgage points
- Origination fees
- Prepaid escrow deposits
- Moving costs
- Furniture and appliance costs
For a complete home-buying budget, review your lender’s documents and estimate ongoing ownership costs separately.
Common Uses for a PITI Calculator
This calculator can help you:
- Estimate monthly mortgage affordability
- Compare homes with different prices and taxes
- Estimate the effect of a larger or smaller down payment
- Add insurance and PMI to a mortgage payment estimate
- Include HOA dues in monthly housing cost
- Estimate cash needed for down payment and closing costs
- Compare 15-year and 30-year payment scenarios
- Understand the difference between P&I and total monthly payment
Assumptions and Limitations
- The calculator assumes a fixed-rate mortgage.
- It assumes regular monthly principal-and-interest payments.
- It estimates property tax as annual property tax divided by 12.
- It estimates home insurance as annual home insurance divided by 12.
- It treats HOA and PMI as fixed monthly amounts.
- It uses closing costs for the cash-to-close estimate only.
- It does not model adjustable-rate mortgage changes.
- It does not calculate escrow changes over time.
- It does not include every possible lender fee, local tax, insurance charge, or ownership cost.
- It does not guarantee loan approval, final payment amount, or lender pricing.
Tips for More Accurate Mortgage Estimates
- Use the actual loan amount if a lender has already provided one.
- Use local property tax estimates for the home’s location.
- Get a real homeowners insurance quote when possible.
- Ask your lender whether PMI applies and how much it may cost.
- Include HOA dues if the property has an association.
- Use lender-provided closing cost estimates when available.
- Compare several interest rates and down payment amounts.
- Remember that final lender numbers may differ from calculator estimates.
Related Calculators
- Mortgage Calculator
- Mortgage Interest Calculator
- Mortgage/Loan Amortization Calculator
- Refinance Calculator
- Loan Calculator
- Interest Rate Calculator
References
- Consumer Financial Protection Bureau: What Is PITI?
- Consumer Financial Protection Bureau: Principal and Interest Payment vs Total Monthly Payment
- Consumer Financial Protection Bureau: Private Mortgage Insurance
- Consumer Financial Protection Bureau: Mortgage Interest Rate vs APR
- Consumer Financial Protection Bureau: Loan Estimate Explainer
Frequently Asked Questions
What does a mortgage calculator with taxes and insurance do?
It estimates a monthly mortgage payment that includes principal, interest, property tax, homeowners insurance, and optional costs such as HOA dues and PMI.
What is included in PITI?
PITI includes principal, interest, taxes, and insurance. This calculator also lets you add HOA dues and PMI to estimate a broader total monthly payment.
How is the monthly mortgage payment calculated?
The principal-and-interest payment is calculated using the loan amount, monthly interest rate, and total number of monthly payments. Taxes, insurance, HOA, and PMI are then added separately.
Does this calculator include closing costs?
Yes. The calculator includes closing costs for the estimated cash-to-close amount. Closing costs are not added to the monthly payment unless you manually include them in the loan amount.
What is the difference between P&I and PITI?
P&I means principal and interest. PITI means principal, interest, taxes, and insurance. PITI is usually a broader monthly housing cost estimate than P&I alone.
Does this calculator include PMI?
Yes. It includes an optional monthly PMI field. If PMI does not apply, leave that field blank or enter zero.
Does this calculator include HOA dues?
Yes. It includes an optional monthly HOA field. HOA dues are added to the total monthly estimate but are not part of the loan amortization schedule.
Why is my lender’s monthly payment different from this estimate?
Your lender’s payment may differ because of exact loan terms, escrow setup, property tax changes, insurance premiums, PMI, closing costs, points, fees, rounding, and lender-specific rules.
Should I use interest rate or APR in this calculator?
Use the mortgage interest rate for basic principal-and-interest payment estimates. APR can include fees and other loan costs, so it may not be the right input for simple monthly payment math.
Can I use this calculator for an adjustable-rate mortgage?
This calculator is mainly designed for fixed-rate mortgage estimates. Adjustable-rate mortgages can change over time, so future payments may differ.
Disclaimer
This calculator is for educational and planning purposes only. It does not provide financial, mortgage, legal, tax, insurance, or lending advice. Actual mortgage payments, taxes, insurance, HOA dues, PMI, closing costs, APR, escrow amounts, lender fees, payoff dates, and approval terms may vary by lender, location, borrower profile, loan program, property type, and market conditions. Always review official loan estimates, closing disclosures, insurance quotes, property tax information, and lender documents before making a home financing decision.