Mortgage Payment Calculator
Monthly P&I, PITI, and total interest paid over the life of the loan.
Inputs
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Results
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What this calculator does
Standard mortgage payment calculator with PITI breakdown. Useful for quickly checking what a property's monthly payment will be at given terms before running a full deal analysis.
How to calculate a mortgage payment
- Subtract down payment from purchase price for loan amount.
- Use the standard mortgage formula: M = P[r(1+r)^n] / [(1+r)^n − 1], where P = loan, r = monthly rate (annual/12), n = total months.
- Add (annual taxes + insurance) / 12 for full PITI.
- Add HOA if applicable.
Terms worth knowing.
PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a typical mortgage payment. PITI is the total monthly housing cost most lenders use for DTI calculations, and the number rental cash-flow analyses subtract from gross rent.
Loan-to-value ratio (LTV) is the loan amount divided by the property's appraised value, expressed as a percentage. LTV drives lender pricing, down payment requirements, and PMI thresholds. Lower LTV = lower risk to lender = better rates and terms.
Debt Service Coverage Ratio (DSCR) is the ratio of a property's annual net operating income to its annual debt service. A DSCR of 1.20 means the property generates 20% more income than it needs to cover the loan payment. Most DSCR lenders require 1.10-1.25 to underwrite.
Cash-on-cash return is annual pre-tax cash flow divided by the total cash the investor put into the deal (down payment + closing + rehab + reserves). Unlike cap rate, it accounts for financing. The most useful metric for comparing leveraged investments.
More REI math tools.
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