Mortgage Calculator with Taxes & Insurance
Estimate your full monthly housing payment — principal, interest, property tax, insurance and PMI (PITI).
How the mortgage calculator with taxes & insurance works
This calculator estimates your full monthly housing payment, often called PITI, rather than just the loan portion. It starts with principal and interest from the loan amount, rate, and term, then layers on the recurring costs a lender expects you to carry: property tax, homeowners insurance, private mortgage insurance when your equity is thin, and any HOA dues.
Tax and insurance are usually collected monthly into an escrow account and paid on your behalf when the bills arrive, so this figure is closer to what actually leaves your account than principal and interest alone. Seeing the whole payment up front keeps your budget honest.
Worked example: with home price of $360,000, down payment of $72,000 and interest rate of 6.75%, the mortgage calculator with taxes and insurance shows total monthly payment (piti) of $2,331.30.
- Principal & interest
- $1,867.96
- Property tax
- $330.00
- Home insurance
- $133.33
- PMI
- —
| Home price | Total monthly payment (PITI) |
|---|---|
| $300,000 | $1,887.14 |
| $450,000 | $3,218.03 |
| $600,000 | $4,415.93 |
| $850,000 | $6,412.43 |
The formula
Total payment = (P × r ÷ (1 − (1 + r)^−n)) + (annual property tax ÷ 12) + (annual insurance ÷ 12) + monthly PMI + monthly HOA. P is the loan amount, r the annual rate ÷ 12, n the number of payments; PMI applies while loan-to-value exceeds 80%.
- Tax and insurance are entered as estimates; your real escrow can change yearly as assessed value and premiums move.
- Assumes a fixed-rate loan and that taxes and insurance are escrowed — if you pay those bills directly, your monthly mortgage line is lower but total cost is not.
- PMI is included only while loan-to-value is above 80% and uses an estimated rate; the lender sets the exact premium and drop-off point.
- HOA dues, where they apply, are paid to the association, not the lender, and are not held in your mortgage escrow.
- Excludes one-time closing costs, flood or wind policies where required, and any special assessments — confirm all of these locally.
Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender or a licensed advisor.
Questions about the mortgage calculator with taxes & insurance
Why is my escrow payment higher than the tax and insurance bills divided by twelve?
Lenders keep a cushion. Federal rules let a servicer hold up to two extra months of escrow as a buffer against rising bills, and if taxes or premiums jumped, they spread the shortfall plus the cushion across your next twelve payments.
That is why an escrow line can climb even when your principal and interest stay fixed.
Are property taxes and insurance ever optional in the payment?
The costs are not optional, but escrowing them can be. With enough equity — often 20% down — some lenders let you pay taxes and insurance yourself instead of through escrow.
That lowers the monthly amount the servicer collects, but you become responsible for paying large bills on time, so budget for them deliberately.
How much can property tax realistically change year to year?
It depends on your state and county. Some places cap annual assessment increases at a few percent; others reassess to full market value after a sale, which can raise the bill sharply the year after you buy.
Because tax is often the largest variable in PITI, treat the figure here as a snapshot and recheck local rules.
Is the Mortgage Calculator with Taxes & Insurance free to use?
Yes. Every calculator on MortgageLoansCalculator is completely free, with no sign-up, login or paywall. Run as many scenarios as you like.
What is PITI?
PITI is the four parts of a full mortgage payment — Principal, Interest, Taxes and Insurance. Lenders qualify you on the whole figure, so a quote showing only principal and interest understates what you will actually owe each month. This calculator adds taxes and insurance for the real number.
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