PITI Calculator

If you want to determine your mortgage's entire monthly cost and want to evaluate the required amount of money to buy a new house, then this PITI calculator is made for you.

PITI consists of four different terms, and it's a short form of Principal, Interest, Tax, and Insurance. It is used to calculate and determine the monthly repayments of loans and mortgages.

The four factors used to calculate the PITI are listed and explained below:

  • Principal: It is the total amount of loan taken, excluding the value of interest.

  • Interest: It's the additional amount of money or a profit charged on borrowing money.

  • Tax: The amount of money you have to pay to the government for the services on land.

  • Insurance: It a protection policy of your property given to you in the case of lightning, fire, or other acts of God.


Formula of PITI Calculator

To evaluate PITI, you can use our calculator, or you can use the formula listed below:

PITI = monthly tax + monthly insurance + monthly mortgage payment


Monthly tax = amount of annual tax / 12

Monthly insurance = amount of annual insurance / 12


To calculate DPO (days payables outstanding), you can use our DPO Calculator.


For a more precise understanding of the concept, let us have an example below:

Suppose a person bought a house on a mortgage, and pays $3,600 property tax each year, and bears the insurance of $1,200 of the house. If he takes a loan of $200,000 for 30 years at an interest rate of 7%, the monthly mortgage payment will be $1,330.60. Now find out the PITI by using the above data.

Given data

Property tax= $3,600 = $3,600 / 12 = $300
Property insurance = $1200 / 12 = $100
Monthly mortgage payment = $1,330.60

To Find

PITI = ?


By using the formula listed below, we can find the value of PITI.

PITI = monthly tax + monthly insurance + monthly mortgage payment

Putting values in the formula:

PITI = $300 + $100 + $1330.60
PITI = $1730.60

How to use the PITI Calculator?

The steps to use the PITI calculator are as follows:

Step 1: Enter the property tax in the first required input.

Step 2: Enter the property insurance in the second required input.

Step 3: Enter the monthly mortgage payment in the third required input.

Step 4: The calculator will automatically display an answer on the screen.

Calculator use

If you want assistance in evaluating the affordability of any mortgage house or land you can use our PITI calculator.