HomeMathHow this calculator works
Enter your loan amount, interest rate, term and down payment, then pick your state to add real property tax and insurance. The result is your true monthly PITI — the full payment that leaves your bank account each month, not just the loan.
What does PITI include?
Your monthly payment has four parts: principal (the amount you borrowed), interest (the cost of borrowing it), taxes (property tax collected monthly) and insurance (homeowners insurance, plus PMI if your down payment is under 20%). Together they add up to the true cost of owning your home.
The 28% rule
A useful rule of thumb: keep your full PITI payment under 28% of your gross monthly income. To work backward, divide your target payment by 0.28 to see the income it requires.
Bi-weekly vs monthly
Paying bi-weekly means 26 half-payments a year — equal to 13 full payments instead of 12. That one extra payment a year goes straight to principal and can cut several years off a 30-year mortgage.