CalcuNation

mortgage with this PITI Payment Mortgage Calculator.

PITI = Principal, Interest, Taxes, Insurance

What is PITI? PITI is an acronym for Principal, Interest, Taxes and

Insurance.

To calculate the monthly PITI payment on a mortgage loan, taxes,

and
insurance, use the equation:

c = Monthly PITI Payment

r = Monthly Interest Rate (in Decimal Form) =

(Yearly Interest Rate/100) / 12

P = Principal Amount on the Loan

N = Total # of Months for the loan ( Years on the loan x 12)

T = Yearly Property Tax Amount

i = Yearly Homeowner's Insurance Amount

Example: Monthly PITI payment for 30 year fixed-rate loan, with a

principal of $250,000, a yearly interest rate of 6.5%,
annual taxes of

$1400, and annual insurance of $500
is :

r = (6.5 / 100) / 12 = .005416667

P = 250,000

N = (30 x 12) = 360

T = $1400

i = $500

The Monthly Payment is $1738.50

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