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

**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.

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

**Next, determine your monthly mortgage payment**Using the principal amount, term length, and interest rate, calculator your monthly mortgage rate.

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

## FAQ

**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.