Question 1

What is PITI?

Accepted Answer

PITI stands for Principal, Interest, Taxes, and Insurance. It represents the four main components of a monthly mortgage payment. Our calculator estimates all four to give you a complete picture of your housing costs.

Question 2

How is a mortgage payment calculated?

Accepted Answer

The principal and interest portion of a mortgage payment is calculated with a standard amortization formula. The total payment is found by adding the monthly cost of property taxes and homeowners insurance to that amount.

Mortgage Calculator

Your Estimated Monthly Payment