PITI Mortgage Payment
Monthly P+I+T+I from principal, APR, term, and annual tax / insurance line items.
Example
You enter
- Principal (loan amount, $) 320000
- APR (percent) 6.5
- Term (years) 30
- Annual property tax ($) 4800
- Annual insurance premium ($) 1800
You get
- Monthly P&I $2022.62
- PITI (P+I+T+I) $2572.62
- Term (months) 360
Checked against published worked examples from: Standard mortgage amortization (public).
Details, formula, and sources
ScopeAdds monthly HOA and PMI pass-through.
Formula or tableMonthly P&I = (P * r) / (1 - (1 + r)^-n) where P is principal, r is APR/12, n is term in months. PITI = P&I + monthly_tax + monthly_insurance. Tax = annual_property_tax / 12; insurance = annual_premium / 12. HOA and PMI are user-supplied monthly line items; the total output (key piti_plus_hoa) includes both HOA and PMI.
Source and editionStandard mortgage amortization. The closed-form annuity-payment formula is universal.
Free accessPublic reference; covered in any introductory finance text. CFPB Closing Disclosure form (public) shows the same line-item composition.
What governsEstimate. Lender governs final underwriting and rate / fee disclosure. Appraiser governs the appraised value. State law and the agency's program guidelines may impose stricter limits than the published thresholds.
API field namesprincipal, apr_percent, term_years, annual_property_tax, annual_insurance, monthly_principal_and_interest, piti, term_months
- Amortization fully amortizing fixed-rate loanconvention; ARMs and interest-only loans use a different schedule
- Payment cadence monthlyconvention
- Tax / insurance annualized amounts split evenly across 12 monthsescrow convention; actual escrow analyses may use a different schedule