Enter the principal mortgage amount, term length, interest rate, tax, and insurance into the PITI Calculator. The calculator will display your actual monthly payments.

PITI Formula

The following formula is used to calculate the monthly payment on a house taking into account interest, tax, and insurance.

PITI = T + I + M

  • Where T is the monthly tax amount
  • I is the monthly insurance amount
  • M is the monthly mortgage payment

PITI Definition

PITI is short for principal, income, tax, and insurance. This is typically used to describe the monthly payments a person makes on those 4 debts.

How to calculate PITI?

How to calculate PITI

  1. First, determine your total home tax

    For use in the calculate above, you should enter your yearly home tax amount. The calculator then converts this to a monthly amount. If not using the calculator, you need to determine your monthly amount yourself for use in the formula above.

  2. Next, determine your insurance amount

    Again, this will be your yearly insurance amount for use in the calculator, and monthly if using the formula.

  3. Next, determine your monthly mortgage payment

    Using the principal amount, term length, and interest rate, calculator your monthly mortgage rate.

  4. Finally, calculate the PITI

    Using the information from steps 1 to 3, calculate the PITI.


What is PITI?

PITI stands for principal, income, tax, insurance. In essence, PITI is an estimate of your average monthly expenses on your home taking into account tax and insurance.

How does insurance effect my mortgage payment?

In short, it doesn’t directly affect your mortgage payment, but it is an extended cost that’s a direct result of owning a home.

PITI Calculator
piti formula