Tools · Run the numbers
Monthly cost (full PITI)
The real monthly number — principal & interest plus taxes, insurance, HOA, and mortgage insurance.
Your real monthly cost is more than principal & interest. PITI is principal, interest, taxes & insurance — this tool adds flood insurance, HOA, and (typically below 20% down) mortgage insurance on top for your full monthly figure. Pick your loan type — conventional PMI is an estimate (it varies by lender and credit profile), while FHA MIP and the USDA annual fee follow set program rules.
Actual PMI typically runs 0.2–1.5% a year depending on credit score and down payment; enter your quoted amount if you have one.
Estimated total monthly cost
$3,262/mo
Loan amount $405,000
Mortgage insurance can typically be removed once you reach 20% equity — but not always. The exact rules depend on your loan type and lender.
Estimates only — not a quote, pre-approval, or offer of credit. Your actual terms come from a lender's Loan Estimate. Your final taxes and insurance, and any mortgage insurance, are set at underwriting.
Terms on this page
- PITIThe four parts of a typical payment: principal, interest, taxes, insurance.
- EscrowAn account the lender uses to collect and pay your taxes and insurance with your payment; also the neutral party holding funds during closing.
- Homeowners insuranceCoverage protecting the home; lenders require it and usually collect it through escrow.
- Private mortgage insurance (PMI)Insurance on a conventional loan when you put less than 20% down; cancellable as you build equity.
- Mortgage insurance premium (MIP)FHA's mortgage insurance; depending on your down payment it can last the life of the loan.
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