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Monthly Mortgage Principal, Interest, Tax & Insurance

Combine level mortgage principal and interest with one twelfth of supplied annual property tax and homeowners insurance.

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Calculator inputs

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How to use this calculator

  1. Enter the known values in the units shown. Results update as you type.
  2. Where results are editable, change one to solve backwards. Lock a value to hold it fixed.
  3. Use the worked example to check the method. Reset restores the starting fields.

Use the result with context

Results are estimates for planning and education. Confirm rates, taxes, fees, and legal requirements with the relevant institution or a qualified professional before making a financial decision.

Formula and method

For principal 12,000 repaid over twelve months at zero interest, annual tax 1,200 and annual insurance 600, estimated monthly PITI is 1,150.

PITI = monthly principal and interest + annual property tax/12 + annual insurance/12

Worked example

Enter these known values and leave the other values blank.

Mortgage principal
12000 USD
Modeled mortgage term
1:0 yrs / mos
Annual nominal interest rate
0 %
Annual property tax
1200 USD
Annual homeowners insurance
600 USD
Estimated monthly PITI
1150 USD /month

Assumptions and limitations

  • The annual nominal interest rate is divided by twelve. Payments occur at the end of equal monthly periods, with a constant nonnegative rate and no extra payments or fees.
  • A whole number of monthly periods describes scheduled equal payments. A fractional term is a continuous mathematical estimate; it is not a calendar payoff date or an exact final partial-payment amount.
  • Calculations retain precision internally and format money for display. Lender rounding, daily accrual, irregular dates and contractual charges can change an actual schedule.
  • The supplied interest rate is an input; this calculator does not recover an unknown rate from other values. Duration selectors use fixed conversion factors, not calendar dates.
  • Tax and insurance entries are annual amounts divided by twelve. They are nonnegative and may be zero; actual escrow adjustments can differ.
  • PITI here excludes mortgage insurance, association dues, utilities, maintenance and fees. It is not a loan-approval or affordability decision.
  • The retained inverse can recover principal, annual tax or annual insurance from other supplied values. It does not recover an unknown interest rate or term.

Common questions

Should I enter monthly tax and insurance?

No. Enter their annual totals. The calculator divides each by twelve before adding it to monthly principal and interest.

Is PITI my entire housing budget?

No. Mortgage insurance, association dues, maintenance and other housing expenses can be additional.

References

Bookify handles zero mortgage interest explicitly in the PITI equation and every retained inverse. Bookify requires positive principal and term, nonnegative annual tax and insurance, and an amortizing principal-and-interest payment.

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