PITI Calculator for Investment Property: Taxes, Insurance, HOA

PITI mortgage payment calculator

Your real monthly housing cost isn't just principal and interest. Add taxes, insurance, HOA and PMI to see the full PITI payment.

Monthly payment

Loan amount–

Principal & interest–

Property taxes–

Insurance–

HOA–

PMI–

Total interest over the loan–

Total PITI–

What PITI includes

P&I = loan × r ÷ (1 − (1 + r)⁻ⁿ) (r = monthly rate, n = number of payments)
PITI = P&I + taxes ÷ 12 + insurance ÷ 12 (+ HOA + PMI)

Example: a $250,000 purchase with 20% down is a $200,000 loan. At 6% for 30 years that's $1,199.10 of principal and interest. Add $3,600 a year in taxes ($300/mo) and $1,800 in insurance ($150/mo) and the PITI is $1,649.10 a month. Over 30 years you'd pay about $231,676 in interest, more than the original loan.

Why landlords should budget for PITI, not P&I

Taxes and insurance are often a third or more of the payment, and they tend to rise over time, while P&I on a fixed-rate loan doesn't change. When you run a cash flow or DSCR analysis, use the full PITI so a reassessment or an insurance renewal doesn't wipe out your margin. Loans on investment properties often need larger down payments than owner-occupied loans, so check your lender's terms before assuming PMI applies.

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FAQ

What does PITI stand for?

Principal, interest, taxes and insurance: the four parts of a typical monthly mortgage payment when taxes and insurance are escrowed. HOA dues and mortgage insurance (PMI) are often added on top, sometimes written as PITIA.

Is PITI tax-deductible on a rental?

On a rental, mortgage interest, property taxes and insurance are generally deductible on Schedule E. Principal isn't deductible. The building is depreciated instead. Check with a tax professional for your situation.

Why did my payment go up on a fixed-rate loan?

Principal and interest stay fixed, but the escrowed taxes and insurance can rise after a reassessment or a premium increase, and that raises the total payment.