Mortgage Calculator with Taxes & HOA
Don't just calculate interest. Estimate your TRUE monthly payment (PITI) including Property Taxes, Homeowners Insurance, and HOA fees.
Loan Details
Taxes & Insurance
Estimated Monthly Payment
Payoff Date
February 2056
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What is a Mortgage Calculator?
A Mortgage Calculator is a financial tool that estimates your monthly home loan payment. The most accurate calculators (like this one) use the PITI formula, which stands forPrincipal, Interest, Taxes, and Insurance. This gives you a realistic view of affordability beyond just the bank loan.
Current Rates (2025)
As of early 2025, the average 30-year fixed mortgage rate in the US hovers between 6.5% and 7.2%, depending on credit score.
Don't Forget Closing Costs
Closing costs typically run 2-5% of the loan amount. On a $400k home, that means you need an extra $8k-$20k cash at signing.
The 20% Down Myth
You don't need 20% down. FHA loans allow 3.5%, and conventional loans allow 3%. However, putting <20% down triggers PMI costs.
Can I afford this house?
Knowing your monthly payment is step one. Step two is checking if your salary covers it comfortably. Use our other tools to plan your budget.
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Frequently Asked Questions
What is PITI in a mortgage payment?
PITI stands for Principal, Interest, Taxes, and Insurance. It represents your total monthly housing cost. Many basic calculators only show Principal + Interest, which can mislead you by underestimating costs by 30-40%.
How much is the average property tax in the US?
The national average property tax rate is approximately 1.1% of the home's assessed value per year. However, this varies wildly from 0.28% in Hawaii to over 2.4% in New Jersey.
What is a good rule of thumb for home affordability?
The 28/36 rule is the gold standard. Your mortgage payment (PITI) should not exceed 28% of your gross monthly income, and your total debt (including cars/student loans) should not exceed 36%.
Does this calculator work for FHA and VA loans?
Yes. For FHA loans, you can simulate the Mortgage Insurance Premium (MIP) by adding it to the 'Home Insurance' or 'HOA' field (approx 0.55% - 0.85% of loan amount yearly).
Calculate Mortgage Payment with PITI & HOA - The Truth About Affordability
Before you sign a 30-year commitment, learn the golden rule of home affordability that banks use to approve your loan.
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