PITI Monthly Payment

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Equation / Last modified by KurtHeckman on 2019/02/18 13:16
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MichaelBartmess.PITI Monthly Payment

The PITI Calculator computes the monthly Principal, Interest, Taxes and Insurance (PITI) payment on a fixed rate loan including principal, interest, taxes and insurance.

INSTRUCTIONS:  Choose units and enter the following:

  • (r)  This is the Annual Interest Rate %
  • (P) This is the Principal Amount on the Loan
  • (N) This is the Total # of Months for the loan ( Years on the loan x 12)
  • (T) This is the Yearly Property Tax Amount
  • (i) This is the Yearly Homeowner's Insurance Amount

PITI Payment (PITI):  The calculator returns the payment in U.S. dollars.  However this can be automatically converted to compatible units via the pull down menu.

The Math / Science

PITI is an acronym for Principal, Interest, Taxes and Insurance. This equation calculates the monthly PITI payment on a mortgage loan, including taxes and insurance escrowed.


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%
  • P = 250,000
  • N = (30 x 12) = 360
  • T = $1400
  • i = $500

From the equation, the Monthly Payment will be $1738.50

See Also