US Mortgage Calculator — Full Monthly Payment (PITI)
By ToolZoneX Team
•
August 2026
Most online mortgage estimates only show principal and interest, which understates your real monthly cost. Lenders actually collect an escrow payment that also covers property tax, homeowners insurance, and — if your down payment is under 20% — private mortgage insurance (PMI). This calculator projects the full payment, often called PITI, and shows exactly when PMI drops off.
How to Use US Mortgage Calculator
1.
Enter the home price and your down payment percentage2.
Choose a 15 or 30-year term and your interest rate3.
Add your property tax rate, home insurance, and any HOA dues4.
View your total monthly payment and a year-by-year amortization chart
Key Features
- Full PITI breakdown, not just principal and interest
- Automatic PMI cancellation once the loan balance hits 78% of the original home value
- 15 vs. 30-year term comparison
- Year-by-year amortization chart showing your balance paid down over time
When to Use This Tool
•
Budgeting the real monthly cost of a home before you start shopping•
Deciding whether a 15-year or 30-year term makes more sense for your interest cost•
Checking whether a smaller down payment (with PMI) or waiting to save 20% is the better move•
Seeing how many years of PMI you would actually pay
Frequently Asked Questions
Principal, Interest, Taxes, and Insurance — the four components lenders typically bundle into one monthly mortgage payment via an escrow account.
By federal law, lenders must automatically cancel PMI once your loan balance reaches 78% of the original home value, assuming payments are current.
No — this calculator projects the recurring monthly payment only. Closing costs (typically 2-5% of the loan amount) are a separate one-time expense at signing.
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