Monthly mortgage payment calculator
Your real monthly payment, including the four costs most calculators leave out.
Principal and interest is the easy part. The full PITI payment - Principal, Interest, Taxes, Insurance - plus HOA and PMI is what actually leaves your bank account every month. On a $400,000 home in Florida with 10% down, P&I is about $2,395 but the full PITI is closer to $3,200. That $800/month gap is what surprises first-time buyers.
Worked examples
Real numbers for common scenarios. These are estimates - your final closing disclosure will reflect the exact fees your specific loan and property require.
Scenario
$425,000 home in Florida, 10% down, 7.0% / 30-yr conventional
Inputs
- Loan amount
- $382,500
- Rate
- 7.0% / 30-yr
Estimate
- Principal + interest
- $2,545
- Property tax (1.1%)
- $390
- Homeowners insurance (FL: ~$3,600/yr)
- $300
- PMI (90% LTV)
- $140
- Total PITI + PMI
- $3,375
Run your own numbers
The calculator gives you the same itemized breakdown for any price, down payment, loan type, and location.
Open the calculatorFrequently asked questions
What's included in PITI?+
Principal, Interest, Taxes, Insurance. PITI is what your lender escrows and collects monthly. PMI (if you put less than 20% down on a conventional loan) and HOA dues are usually paid alongside PITI but not always escrowed.
How much is PMI typically?+
PMI ranges from 0.3% to 1.5% of the loan amount per year, paid monthly. Average is about 0.5-0.7% - that's $135-$190/month on a $325,000 loan. Higher LTV (smaller down payment) and lower credit score = higher PMI rate.
When does PMI go away?+
On conventional loans, PMI automatically drops at 78% LTV (you've paid down to 78% of the original purchase price). You can request removal at 80% LTV. FHA mortgage insurance does NOT auto-cancel on most loans originated after 2013 - you have to refinance to get rid of it.
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All numbers shown are estimates for planning purposes. Closing costs, taxes, and fees vary by lender, title company, county, and individual transaction. LoanElk is not a lender, broker, or financial advisor. Your final Loan Estimate and Closing Disclosure are the authoritative figures.