Estimate a full monthly housing payment (PITI). Principal and interest use a standard amortizing loan formula; taxes, insurance, HOA, and PMI are added on top.
Inputs
20% down typically avoids PMI.
Estimated at 0.5%/year of the loan. Auto-dropped at 20%+ down.
Results
Total monthly payment (PITI)
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Principal & interest
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Property tax + insurance
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PMI
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Total interest paid
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Total cost of the loan
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PMI is an estimate (0.5% of the loan amount per year). Lenders often remove it around 20% equity; this calculator zeros PMI when down payment is 20% or more.
FAQ
Quick notes about estimates and why a lender’s quote can differ.
What does PITI mean?
Principal, Interest, Taxes, and Insurance. Together they form the typical monthly housing payment when tax and insurance are escrowed. This calculator also layers in HOA and PMI when you include them.
How much down payment do I need?
It depends on the loan program. 20% avoids most PMI on conventional loans. Smaller down payments are common, but they increase the loan amount, monthly payment, and often add PMI until you reach about 20% equity.
What is PMI and when does it go away?
PMI is extra insurance on low-down-payment loans. This page estimates it at 0.5% of the loan per year and hides it once down payment is 20% or more. Your lender’s rate and cancellation timeline can differ.
Does this include closing costs?
No. This is a monthly payment estimate. Closing costs are separate upfront (or financed) fees and are not included here.
Does this include moving costs?
No. PITI is the ongoing housing payment once you live there. One-time relocation costs — movers, deposits, overlap rent, and whether a city is actually cheaper — sit outside this calculator. For city cost comparisons when you are planning a move, see
BeforeYouMoveThere.com.