OwnerCost

United States · Mortgage

Mortgage & PITI Calculator

Estimate your monthly mortgage payment and total PITI, including principal, interest, property taxes, homeowners insurance and PMI when applicable.

Set a shorter payoff to fill the extra payment.

Example with the default inputs. Change any field to recalculate.

Estimated owner cost: $2,865 a month

That is 31.3% of gross monthly income. This is a calculation, not a lender assessment or a recommendation.

Monthly owner cost (PITI)
$2,865

P&I $2,287 · property tax $413 · insurance $165 · HOA $0 · PMI $0
Loan $360,000 · LTV 80.0%

Extra $0/mo
$0

Interest saved · payoff 30.0 yrs · 0 months sooner

Cash to close
$90,000

Deposit $90,000 + closing costs $0

Day-one cash breakdown
Deposit$90,000
Transfer / recording taxes (your input)$0
Lender, title and other closing costs (your input)$0
10-year cash comparison

Deposit, closing costs and 120 months of owner cost: $433,775. 120 months of rent starting at $2,400 and rising 3% a year: $330,160.

OwnerCost assumptions: a 10-year period and 3% annual rent growth. This counts cash paid on the regular schedule only — extra principal is not included — and it ignores the equity you build, changes in the home's value, selling costs and what the deposit could earn elsewhere — so it does not say whether buying or renting is better.

30-year vs 15-year
30-year15-year
P&I / month$2,287$3,146
Total interest$463,426$206,260
Extra / month on the 30-year to finish in 15$859

OwnerCost sheet

United States · https://ownercost.com/us/mortgage/
Price $450,000 · down $90,000 · 6.55% · 30 years
Owner cost $2,865 (P&I $2,287)
Extra $0/mo · paid off in 30.0 years · interest saved $0
Cash to close $90,000
Registry OC-MTG 2.1.0. Planning estimate, not an offer of credit.

What this includes

Enter the rate your lender quotes; it is divided by 12 for the monthly rate, the way US lenders calculate payments. PMI here is an illustrative estimate from loan-to-value only; your quote also depends on credit score and insurer.

How we calculate

Monthly rate = quoted annual rate ÷ 12. Payment = P·i / (1 − (1 + i)^−n) over n months. Owner cost = principal and interest + property tax (1.1% of price a year by default) + home insurance + PMI while the loan is above 80% of the price. PMI uses illustrative loan-to-value bands (0.32%–1.05% of the loan a year); real PMI also depends on credit score and insurer. In the 10-year comparison PMI is counted until the scheduled balance reaches 80% of the price, when you can ask your servicer to cancel it (it ends automatically at 78%), and never past the midpoint of the loan term, when federal law ends it. Extra principal is applied every month and compared with the normal schedule. The 10-year cash comparison uses two OwnerCost assumptions — a 10-year period and rent rising 3% a year — and counts cash paid on the regular schedule only (the extra-principal input is not included); it is not a buy-or-rent recommendation. Principal and interest are counted only until the loan is repaid (at most 120 months), so a term shorter than 10 years adds no payments after payoff; insurance, property tax and building or owners' fees continue for all 120 months; mortgage insurance stops when its own rule ends it and never after the loan does.

Official sources

Rules checked against these sources on 24–25 September 2026.