PITI Calculator
Calculate your total monthly housing cost: principal, interest, taxes, insurance, PMI, and HOA.
This tool is for informational and educational purposes only. It is not a substitute for professional financial, medical, legal, or engineering advice. See Terms of Service.
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PITI stands for Principal, Interest, Taxes, and Insurance. These four components make up your total monthly housing payment. Many homebuyers focus only on the mortgage payment and are surprised by the full cost. This calculator shows you the complete picture.
- Enter the home price and down payment. Your loan amount is calculated automatically.
- Set your interest rate and loan term. These determine the principal and interest portion of your payment.
- Enter annual property tax. Check the county assessor's website or ask your real estate agent. A common estimate is 1% to 1.5% of the home value per year.
- Enter annual homeowner's insurance. Get a quote from an insurance provider. A typical range is $1,200 to $2,400 per year.
- Add monthly PMI if applicable. If your down payment is less than 20%, your lender will require PMI. Typical PMI costs $50 to $200 per month depending on loan size and credit score.
- Add HOA dues if applicable. Condos and planned communities often charge monthly HOA fees ranging from $100 to $500 or more.
Your total PITI updates instantly as you adjust each input. The breakdown table below the result shows each component separately.
About PITI Payments
Lenders use your PITI payment to calculate your housing expense ratio (front-end ratio). Most conventional lenders want PITI to be no more than 28% of your gross monthly income. The total debt-to-income ratio (including car loans, student loans, and credit cards) should be below 36%, though some programs allow up to 43% or higher.
Understanding your full PITI helps you set a realistic home-buying budget. The principal and interest portion is fixed on a fixed-rate mortgage, but taxes and insurance can increase over time.
Frequently Asked Questions
What does PITI stand for?
PITI stands for Principal, Interest, Taxes, and Insurance. It represents the four main components of a monthly mortgage payment. Some people also include PMI (Private Mortgage Insurance) and HOA (Homeowners Association) fees in the total.
What percentage of income should PITI be?
Most lenders follow the 28/36 rule: PITI should not exceed 28% of your gross monthly income (front-end ratio), and total debt payments should not exceed 36% (back-end ratio). FHA loans may allow up to 31% front-end and 43% back-end ratios.
Does PITI include HOA fees?
Traditionally, PITI covers principal, interest, taxes, and insurance only. However, lenders include HOA fees when calculating your debt-to-income ratio. This calculator lets you add HOA to see the complete monthly cost.