body {
font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif;
line-height: 1.6;
color: #333;
max-width: 800px;
margin: 0 auto;
padding: 20px;
}
.calculator-container {
background: #f8f9fa;
border: 1px solid #e9ecef;
border-radius: 8px;
padding: 30px;
margin-bottom: 40px;
box-shadow: 0 4px 6px rgba(0,0,0,0.05);
}
.calc-grid {
display: grid;
grid-template-columns: 1fr 1fr;
gap: 20px;
}
@media (max-width: 600px) {
.calc-grid {
grid-template-columns: 1fr;
}
}
.input-group {
margin-bottom: 15px;
}
.input-group label {
display: block;
margin-bottom: 5px;
font-weight: 600;
font-size: 0.9rem;
color: #495057;
}
.input-group input, .input-group select {
width: 100%;
padding: 10px;
border: 1px solid #ced4da;
border-radius: 4px;
font-size: 1rem;
box-sizing: border-box;
}
.input-group input:focus {
border-color: #007bff;
outline: none;
box-shadow: 0 0 0 3px rgba(0,123,255,0.25);
}
.calc-btn {
grid-column: 1 / -1;
background-color: #007bff;
color: white;
border: none;
padding: 15px;
font-size: 1.1rem;
font-weight: bold;
border-radius: 4px;
cursor: pointer;
width: 100%;
margin-top: 10px;
transition: background-color 0.2s;
}
.calc-btn:hover {
background-color: #0056b3;
}
.results-section {
margin-top: 30px;
background: #fff;
border: 1px solid #dee2e6;
border-radius: 6px;
padding: 20px;
display: none;
}
.main-result {
text-align: center;
margin-bottom: 20px;
border-bottom: 2px solid #f1f3f5;
padding-bottom: 20px;
}
.main-result h3 {
margin: 0;
color: #6c757d;
font-size: 1rem;
text-transform: uppercase;
letter-spacing: 1px;
}
.main-result .amount {
font-size: 2.5rem;
font-weight: 800;
color: #28a745;
margin: 10px 0 0 0;
}
.breakdown-item {
display: flex;
justify-content: space-between;
padding: 10px 0;
border-bottom: 1px solid #f1f3f5;
}
.breakdown-item:last-child {
border-bottom: none;
}
.breakdown-label {
color: #495057;
}
.breakdown-value {
font-weight: 600;
}
.article-content h2 {
color: #2c3e50;
margin-top: 40px;
}
.article-content h3 {
color: #34495e;
margin-top: 25px;
}
.article-content p {
margin-bottom: 15px;
}
.info-box {
background-color: #e8f4fd;
border-left: 4px solid #007bff;
padding: 15px;
margin: 20px 0;
}
Understanding Your Total Monthly Mortgage Payment (PITI)
When shopping for a home, looking at the listing price is just the tip of the iceberg. To truly budget for homeownership, you need to calculate your PITI—Principal, Interest, Taxes, and Insurance. Our comprehensive Mortgage PITI Calculator breaks down every component of your monthly financial obligation, ensuring you aren't blindsided by hidden costs like HOA fees or Private Mortgage Insurance (PMI).
Expert Tip: Most financial advisors recommend that your total monthly housing payment (including taxes and insurance) should not exceed 28% of your gross monthly income.
The 5 Components of Your Monthly Payment
1. Principal
This is the portion of your payment that goes directly toward paying down the loan balance. In the early years of a 30-year mortgage, the principal portion is small, but it grows over time as the interest portion decreases (a process called amortization).
2. Interest
This is the cost of borrowing money. The interest rate is determined by the broader economic environment, your credit score, and your down payment size. Even a small difference in rate (e.g., 6.5% vs 7.0%) can add hundreds of dollars to your monthly payment and tens of thousands over the life of the loan.
3. Property Taxes
Local governments assess taxes based on the value of your property to fund schools, roads, and services. These are usually paid annually or semi-annually, but most lenders divide the annual amount by 12 and collect it monthly, holding it in an escrow account until the tax bill is due.
4. Homeowners Insurance
Lenders require you to insure the home against damage (fire, storms, theft). Like property taxes, the annual premium is typically divided into monthly installments and paid via escrow.
5. Mortgage Insurance (PMI) & HOA Fees
If you put down less than 20% of the home's purchase price, lenders usually require Private Mortgage Insurance (PMI) to protect them against default. Additionally, if you buy a condo or a home in a planned community, you may owe Homeowners Association (HOA) dues, which cover common area maintenance and amenities.
How to Use This Calculator
To get the most accurate result, gather your financial documents or look at the MLS listing for specific tax and HOA data:
- Home Price: The negotiated purchase price of the property.
- Down Payment: The cash you are paying upfront. The more you put down, the lower your loan amount and monthly payment.
- Property Tax: You can find the specific tax history on real estate listing sites like Zillow or Redfin.
- PMI: If your down payment is under 20%, estimate about 0.5% to 1% of the loan amount annually, or ask your lender for a quote.
Why Your Down Payment Matters
The down payment directly influences two major factors: your Loan-to-Value (LTV) ratio and your interest rate. A down payment of 20% or more eliminates the need for PMI, immediately saving you money. Furthermore, lenders often offer better interest rates to borrowers with higher equity stakes, as they are viewed as lower-risk borrowers.
function calculateMortgage() {
// 1. Get Input Values
var homePrice = parseFloat(document.getElementById("homePrice").value);
var downPayment = parseFloat(document.getElementById("downPayment").value);
var interestRate = parseFloat(document.getElementById("interestRate").value);
var loanTermYears = parseFloat(document.getElementById("loanTerm").value);
var annualTax = parseFloat(document.getElementById("propertyTax").value);
var annualInsurance = parseFloat(document.getElementById("homeInsurance").value);
var monthlyPMIInput = parseFloat(document.getElementById("pmi").value);
var monthlyHOA = parseFloat(document.getElementById("hoaFees").value);
// 2. Validate Inputs
if (isNaN(homePrice) || homePrice < 0) homePrice = 0;
if (isNaN(downPayment) || downPayment < 0) downPayment = 0;
if (isNaN(interestRate) || interestRate < 0) interestRate = 0;
if (isNaN(loanTermYears) || loanTermYears <= 0) loanTermYears = 30;
if (isNaN(annualTax) || annualTax < 0) annualTax = 0;
if (isNaN(annualInsurance) || annualInsurance < 0) annualInsurance = 0;
if (isNaN(monthlyPMIInput) || monthlyPMIInput < 0) monthlyPMIInput = 0;
if (isNaN(monthlyHOA) || monthlyHOA < 0) monthlyHOA = 0;
// 3. Calculate Loan Variables
var loanAmount = homePrice – downPayment;
// Prevent negative loan amount
if (loanAmount 0) {
if (monthlyInterestRate === 0) {
// Handle zero interest case
monthlyPI = loanAmount / numberOfPayments;
} else {
// Standard Amortization Formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
var mathPower = Math.pow(1 + monthlyInterestRate, numberOfPayments);
monthlyPI = loanAmount * (monthlyInterestRate * mathPower) / (mathPower – 1);
}
}
// 5. Calculate Taxes, Insurance, and Totals
var monthlyTax = annualTax / 12;
var monthlyInsurance = annualInsurance / 12;
// Use user input PMI, or allow logic to zero it out if 20% down?
// For this specific calculator, we trust the input, but let's auto-calc if user leaves it 0 but has <20% down?
// Prompt rule: "Input fields… match specific topic". Let's stick to the manual input for PMI
// to allow user override, but purely add it to the total.
var totalMonthly = monthlyPI + monthlyTax + monthlyInsurance + monthlyPMIInput + monthlyHOA;
// 6. Format Output (Currency)
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2
});
// 7. Display Results
document.getElementById("totalMonthlyDisplay").innerHTML = formatter.format(totalMonthly);
document.getElementById("piDisplay").innerHTML = formatter.format(monthlyPI);
document.getElementById("taxDisplay").innerHTML = formatter.format(monthlyTax);
document.getElementById("insuranceDisplay").innerHTML = formatter.format(monthlyInsurance);
document.getElementById("pmiDisplay").innerHTML = formatter.format(monthlyPMIInput);
document.getElementById("hoaDisplay").innerHTML = formatter.format(monthlyHOA);
document.getElementById("loanAmountDisplay").innerHTML = formatter.format(loanAmount);
// Show result container
document.getElementById("resultContainer").style.display = "block";
}