Your real monthly payment — with taxes & PMI
See your real monthly cost — not just principal and interest. This calculator bakes in realistic property tax, homeowners insurance, and PMI (if your down payment is under 20%), so the PITI number you see is the one you’ll actually owe.
Enter your numbers
Advanced (taxes, insurance, PMI, HOA)
Monthly breakdown
Your real rate depends on credit, loan type, and market conditions. Estimates only based on national averages. Always confirm with a licensed lender.
This payment may be overstretched
At $3,043/mo, a $85,000-income household would spend 43.0% of gross pay on housing — above the 36% stretched ceiling. Consider a lower price, bigger down payment, or waiting for rates to drop before locking in this budget.
Because your down payment is 10.0%, PMI of $225/mo is baked into that payment. See how PMI affects your payment.
Benchmark: a typical $85,000/yr household can comfortably afford about $1,983/mo for housing (28% front-end) and up to $2,550/mo at the 36% stretch ceiling.
What changed your payment most?
All values are the change in total monthly payment from your current scenario.
| Scenario | +$50k home price | +1% rate | +10% down payment |
|---|---|---|---|
| Change in monthly payment | +$380 | +$244 | −$484 |
| New total monthly | $3,424 | $3,287 | $2,559 |
Biggest mover: a 10% larger down payment. If you have flexibility on one of those levers, that’s where focus pays off.
Down payment scenarios
Same $400,000 home at 6.750% for 30 years — only the down payment changes.
| Scenario | 5% down $20,000 | 10% down $40,000 | 20% down $80,000 |
|---|---|---|---|
| Total monthly payment | $3,186 | $3,043 | $2,559 |
| Principal & interest | $2,465 | $2,335 | $2,076 |
| Monthly PMI Drops to $0 once LTV ≤ 80% | $238 | $225 | — |
| Loan amount | $380,000 | $360,000 | $320,000 |
| Total interest paid | $507,282 | $480,583 | $427,185 |
Rate shopping scenarios
Locking a slightly better rate changes both your monthly payment and lifetime interest.
| Scenario | 6.250% −0.5% | 6.750% Current | 7.250% +0.5% |
|---|---|---|---|
| Total monthly payment | $2,925 | $3,043 | $3,164 |
| Principal & interest | $2,217 | $2,335 | $2,456 |
| Total interest paid | $437,969 | $480,583 | $524,100 |
That’s why shopping at least 3 lenders typically saves thousands over the life of a loan.
Common mistakes buyers make
Find out how much cash you’ll need to close
Now that you know the monthly, get a realistic estimate of what you’ll owe at the closing table — lender fees, title, escrow, and prepaid items.
See today’s mortgage rates
Compare current mortgage options and see whether you could lower your monthly payment before you talk to a lender.
Check what you may qualify for
Your calculator result is only part of the picture. Get a faster estimate of what lenders may approve based on income, debt, and down payment.
The PITI formula, in plain English
Your monthly payment is made up of four parts: Principal, Interest, property Taxes, and homeowners Insurance. If you put less than 20% down, private mortgage insurance (PMI) is added on top.
- • Principal & interest use the standard amortization formula.
- • Property tax defaults to 1.1% of home value / year (US average).
- • Homeowners insurance defaults to 0.35% of home value / year.
- • PMI defaults to 0.75% of loan amount / year when your LTV > 80%.
How to lower your monthly payment
- Increase your down payment to 20%. You’ll eliminate PMI and reduce the loan balance interest is charged on.
- Improve your credit score. A 760+ score typically gets the best rates and PMI pricing.
- Shop at least 3 lenders. Borrowers who get multiple quotes can save thousands over the life of the loan.
- Consider a 15-year term if the higher payment fits your budget — you’ll save huge on interest.
From home price to monthly payment in 30 seconds
- 1. Enter the home price. Use the actual price or your budget target.
- 2. Set your down payment. Move the slider until your cash-to-close feels realistic.
- 3. Pick a loan term and rate. The calculator defaults to current 30-year averages.
- 4. Adjust tax and insurance if you know local averages — otherwise the national defaults are close.
- 5. Check the full PITI payment. That’s what you’ll owe every month.
- 6. Play with scenarios. How does 20% down change it? What about 15 years? Plan before you commit.
Related tools
Keep planning with our other free calculators and guides.
Affordability calculator
Figure out the max price that fits your income.
PMI calculator
Estimate PMI based on credit score and down payment.
Closing costs calculator
Estimate the 2–5% you owe at the closing table.
Amortization calculator
Year-by-year breakdown of principal vs. interest.
Extra payment calculator
See how an extra $100/month shortens your loan.
Property tax & insurance
Estimate your escrow by state.
See rates and costs in your state
Tap a state for local averages and tailored estimates.