What does PITI stand for in a mortgage payment?

PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a typical monthly mortgage payment.

When is PMI required on a conventional loan?

Private Mortgage Insurance (PMI) is required on conventional loans when the down payment is less than 20% of the purchase price (LTV above 80%).

What is the difference between FHA and conventional loans?

FHA loans require as little as 3.5% down and have more flexible credit requirements (580+ FICO), but require mortgage insurance premiums for the life of the loan in most cases. Conventional loans require 620+ FICO and PMI only until 80% LTV.

Mortgage Calculator — Estimate Your Monthly Payment

Loan Program

Loan Amount

$320,000

LTV Ratio

80.0%

Total Interest

—

Total Cost

—

Loan Details

Home Price

Down Payment

Min 20% for Conventional without PMI

Interest Rate (Annual)

Loan Term

Annual Property Tax Rate

Of home value. Avg US rate ≈ 1.1%

Homeowner's Insurance (Monthly)

Typical range: $100–$250/mo

PMI (Auto-calculated)

$/mo

No PMI required (LTV ≤ 80%)

Estimated Monthly Payment

$—

Enter details and click Calculate

Principal & Interest —

Property Tax —

Insurance —

PMI / MIP —

Principal & Interest —

Property Tax —

Homeowner's Insurance —

PMI —

Total Monthly PITI —

Amortization Schedule

Show Schedule ▾

Month	Payment	Principal	Interest	Balance
Calculate your payment first to view the schedule.

Disclaimer: This calculator provides estimates for informational purposes only. Actual loan payments will vary based on your credit score, lender, exact interest rate, local tax assessments, insurance quotes, and other factors. This is not a loan commitment or pre-approval. Consult a licensed mortgage professional for accurate figures.

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