Americans search “mortgage calculator.” They mean PITI, not just P&I.
A loan payment is easy. Housing cost is not. US buyers quote principal-and-interest from a pretty slider, then discover escrow for tax and insurance, then PMI because they put 10% down, then HOA. Tax, insurance, and a PMI line sit on one screen so the monthly number is closer to the one that hits the checking account.
The principal-and-interest piece is the same reducing-balance formula as the EMI page. The packaging is different: 15/20/30-year terms, dollar display, loan-to-value, and PMI that drops off this model at 20% down. Real PMI cancellation has seasoning rules. Read your servicer before you stop paying it.
Worked example: $400,000 house, 20% down, 6.5%, 30 years
Down $80,000, loan $320,000. PMI should be zero here because LTV is 80%. Add $4,800 tax and $1,400 insurance and the PITI is no longer the P&I you saw on Instagram. That gap is why “I can afford the house” and “I can afford the month” diverge.
Worked example: 10% down
Same price, $40,000 down, loan $360,000. LTV 90%. PMI turns on. I default PMI to 0.5% of loan per year because I needed a number; your FICO will not match it. Type the percent from the Loan Estimate. Watch PITI jump. That jump is the cost of keeping cash for closing.
Worked example: 15-year vs 30-year
Shorter term, higher P&I, less interest over life, faster equity. Tax and insurance do not care about your term. PMI might drop sooner if values hold. None of that is guaranteed in a flat market. Use the term box as a sensitivity tool.
What this will not catch
HOA, special assessments, flood insurance, impound cushions, origination fees, discount points, buydowns, ARMs after the teaser, and property-tax reassessments after purchase. CFPB materials are the grown-up reading list. This page is the napkin.
If you are comparing a US mortgage to an Indian home-loan EMI, do not paste rupees into the dollar fields. Different fees, different interest deduction rules, different foreclosure culture. Use EMI for INR. Use this for USD.
Before you treat PITI as a lock
Price from the offer, not Zillow. Down payment you can actually wire after closing costs. Rate from a written quote dated this week. Tax from the county bill. Insurance from a quote. PMI percent from the lender if you are under 20%. Then look at PITI against take-home, not against hopium.
What is PITI?
Principal, interest, taxes, and insurance — the monthly housing payment most US lenders underwrite against, sometimes plus PMI and HOA.
When does PMI show up?
If down payment is under 20% of price, this model adds PMI as an annual percent of the loan, billed monthly. Set the % to match your quote.
Is this an Indian home loan page?
Use the EMI calculator for rupee reducing-balance instalments. This page is the US PITI stack buyers actually Google.
Property tax — annual or monthly?
Enter the annual tax bill. It is divided by 12. Millage rates differ by county; this is not a tax assessor.
Insurance?
Annual homeowners premium / 12. Flood and wind riders are extra in real life.
Are points and credits modeled?
No. A 15-year vs 30-year choice is the term box. Price the points with your lender.
Does this upload my offer price?
No. The numbers stay in this tab.