Institutional Mortgage Desk
Mortgage PITI Analyzer
Institutional-grade amortization with explicit PITI breakdowns, PMI auto-removal at 78% LTV, and a break-even equity timeline.
What is PITI in a Mortgage Payment?
PITI stands for Principal, Interest, Taxes, and Insurance - the four components that make up your total monthly mortgage payment.
- Principal: The amount you're paying down on your loan balance
- Interest: The cost of borrowing money from the lender
- Taxes: Property taxes (varies by state, typically 0.5-2.5% of home value annually)
- Insurance: Homeowners insurance and PMI (Private Mortgage Insurance) if your down payment is less than 20%
Our calculator automatically calculates all PITI components for all 50 US states, including state-specific property tax rates.
๐ Top Mortgage Rates
Compare rates from trusted lenders
*Rates are estimates and may vary. We may earn a commission if you click through and get approved.
Loan Inputs
Monthly PITI + HOA
$3,127
PMI Removal
Not Required
PMI automatically drops when LTV falls below 78% based on the amortization schedule.
Break-even equity date: Mar 2026
Principal vs Interest
Recommended Financial Tools
These trusted partners can help you achieve your financial goals. We may earn a commission if you sign up (at no extra cost to you).
We may earn a commission if you sign up through our links (at no extra cost to you).
Advertisement
Ad space reserved
(AdSense integration pending)
Related Resources
Frequently Asked Questions
What is PITI in a mortgage payment?
PITI stands for Principal, Interest, Taxes, and Insurance. It represents your total monthly mortgage payment. Principal is the loan amount you're paying down, Interest is the cost of borrowing, Taxes are property taxes (varies by state), and Insurance includes homeowners insurance and PMI (Private Mortgage Insurance) if your down payment is less than 20%.
How do I calculate my mortgage payment?
Use our mortgage calculator above! Enter your home price, down payment percentage, interest rate, property tax rate (varies by state), homeowners insurance, and HOA fees if applicable. The calculator automatically computes your monthly PITI payment, PMI if needed, and shows when PMI will drop (when your loan-to-value ratio falls below 78%).
What is PMI and when does it drop?
PMI (Private Mortgage Insurance) is required when your down payment is less than 20% of the home price. It protects the lender if you default. PMI automatically drops when your loan-to-value (LTV) ratio falls below 78% based on the original amortization schedule, or you can request removal when LTV reaches 80% with a new appraisal.
How much house can I afford?
Use the 28/36 rule: Your monthly housing costs (PITI) should not exceed 28% of your gross monthly income, and total debt payments should not exceed 36%. For example, if you earn $100,000/year ($8,333/month), your maximum monthly housing payment should be around $2,333. Use our 'How Much House Can I Afford' calculator for a detailed analysis.
What are property tax rates by state?
Property tax rates vary significantly by state. New Jersey has the highest average rate at 2.49%, while Hawaii has the lowest at 0.28%. Our calculator includes state-specific property tax rates for all 50 US states. Property taxes are typically 1-2% of your home's assessed value annually, paid monthly through escrow.
Should I pay extra on my mortgage?
Paying extra on your mortgage can save thousands in interest and shorten your loan term. For example, paying an extra $200/month on a $400,000 mortgage at 6.5% can save over $100,000 in interest and pay off the loan 7 years early. However, consider if you could earn more by investing that money instead, especially if your mortgage rate is low.
What's the difference between a 15-year and 30-year mortgage?
A 15-year mortgage has higher monthly payments but much lower total interest paid and builds equity faster. A 30-year mortgage has lower monthly payments, making it more affordable, but you'll pay significantly more interest over the life of the loan. Use our calculator to compare both options side-by-side.
What are closing costs?
Closing costs typically range from 2-5% of the home price and include loan origination fees, appraisal, title insurance, home inspection, prepaid property taxes and insurance, and other fees. On a $500,000 home, expect closing costs of $10,000-$25,000. These are separate from your down payment.
Compare Top Mortgage Lenders
Compare rates from top lenders. Rates updated daily. Click through to see personalized offers.
*Rates shown are estimates and may vary based on credit score, loan amount, and other factors. We may earn a commission if you click through and get approved.
| Lender | Rate | APR | Fees | Min Credit | Action |
|---|---|---|---|---|---|
SoFiBest Overall | 6.25% | 6.45% | $0 | 680 | Get Rates โ |
LendingTreeCompare Multiple | 6.15% | 6.38% | Varies | 620 | Get Rates โ |
Rocket Mortgage | 6.35% | 6.52% | $0 | 620 | Get Rates โ |
Better.com | 6.20% | 6.42% | $0 | 620 | Get Rates โ |
๐ก Pro Tip: Rates vary daily and by credit profile. Use our calculator above to estimate your payment, then compare personalized offers from multiple lenders to find the best rate for your situation. Always read the fine print and compare total loan costs, not just rates.
Mortgage Planning Checklist 2025
Complete guide to mortgage planning including PITI calculations, PMI strategies, and home buying tips.
Get Your Free Mortgage Planning Checklist
Download our comprehensive mortgage planning checklist with PITI breakdown, PMI removal strategies, and home buying tips.
We respect your privacy. Unsubscribe at any time.