CalculatorSolve

# PITI Payment Mortgage Calculator

## Use this PITI Payment Mortgage Calculator to calculate the total monthly mortgage costs on a house with Insurance and Taxes included.

Add a PITI Payment Calculator Widget to your own website, or blog.

### What is PITI?

PITI is an acronym for Principal, Interest, Taxes and Insurance.

To calculate the monthly PITI payment on a mortgage loan, taxes,
and insurance, use the equation:

c = Monthly PITI Payment

r = Monthly Interest Rate (in Decimal Form) =
(Yearly Interest Rate/100) / 12

P = Principal Amount on the Loan

N = Total # of Months for the loan ( Years on the loan x 12)

T = Yearly Property Tax Amount

i = Yearly Homeowner's Insurance Amount

Example: Monthly PITI payment for 30 year fixed-rate loan, with a
principal of \$250,000, a yearly interest rate of 6.5%, annual taxes of
\$1400, and annual insurance of \$500 is :

r = (6.5 / 100) / 12 = .005416667

P = 250,000

N = (30 x 12) = 360

T = \$1400

i = \$500

The Monthly Payment is \$1738.50