KLOORAMortgage Calculator with Taxes and Insurance
Calculate the full monthly mortgage payment (PITI) with property tax, homeowners insurance, PMI and HOA fees.
How to use Mortgage Calculator with Taxes and Insurance
- Enter your values in the fields.
- The results update instantly as you type.
- Note or copy the numbers you need.
Features
- Instant results
- Free, no signup
- Runs in your browser, nothing is uploaded
- Works on phone and desktop
How it works
Principal and interest use the standard amortization formula: payment = loan x r / (1 - (1 + r) ^ -n) with a monthly rate r. Taxes, insurance, PMI and HOA are added on top.
Worked example
On a 400,000 home with 10 percent down at 6.5 percent over 30 years, principal and interest is about 2,275. With 1.1 percent tax, 1,800 insurance and PMI, the total is near 2,940 a month.
Good to know
Lenders also look at your debt to income ratio, which should stay under about 43 percent.
Frequently asked questions
What is PITI?
Principal, interest, taxes and insurance, the four parts of a typical monthly mortgage payment.
When is PMI required?
Lenders usually require private mortgage insurance when the down payment is below 20 percent. The tool uses 0.5 percent of the loan a year as an estimate.
What is a typical property tax rate?
It ranges from under 0.5 percent to over 2 percent of home value depending on the state and county.
Is the Mortgage Calculator with Taxes and Insurance free?
Yes. It is free, needs no signup and works on any device.