What does PITI stand for in a mortgage payment?

PITI stands for Principal, Interest, Taxes, and Insurance — the four components that make up your full monthly mortgage payment. Our calculator includes all four.

Quicken Loans Mortgage Calculator

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Estimate your monthly mortgage payment using current Quicken Loans partner rates. Adjust home price, down payment, interest rate, and loan term to see your full PITI payment.

🧮 Mortgage Payment Calculator

Principal · Interest · Taxes · Insurance (PITI) — all included

Home Price ($)

Down Payment (20%)

3%50%

Loan Term

Interest Rate (%)

Annual Property Tax Rate (%)

Monthly Homeowner's Insurance ($)

$0Monthly P&I Payment

$0Total Interest Paid

$0Total Cost of Loan

Monthly Payment Breakdown

Principal & Interest—

Interest Portion (Month 1)—

Property Tax (est.)—

Homeowner's Insurance—

Total Monthly Payment (PITI)—

* Calculations are estimates only and do not include PMI, HOA fees, or other costs. Actual rates from Quicken Loans partners may differ. Consult a licensed mortgage professional before making financial decisions.

Amortization Visualization

See how your monthly payment breaks down between principal and interest over the loan term.

Based on $400,000 loan at 6.75% APR over 30 years.

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How to Use the Quicken Loans Mortgage Calculator

Step 1: Enter Your Home Price

Start with the purchase price of the home you want to buy, or your current home value if refinancing. The median US home price in 2026 is approximately $420,000.

Step 2: Set Your Down Payment

Use the slider to set your down payment percentage. A 20% down payment eliminates the need for Private Mortgage Insurance (PMI). FHA loans allow as little as 3.5% down, while VA and USDA loans offer 0% down for eligible borrowers.

Step 3: Choose Loan Term

A 30-year fixed mortgage offers the lowest monthly payment. A 15-year mortgage means higher monthly costs but significant savings on total interest paid. The difference can be tens of thousands of dollars over the life of the loan.

Step 4: Enter Current Interest Rate

Check our current Quicken Loans mortgage rates page for the latest rate estimates. As of July 2026, the average 30-year fixed rate through partner lenders is approximately 6.8%–7.2%, depending on your credit score and down payment.

Understanding Your PITI Payment

Component	What It Is	Typical Amount
P — Principal	Repays your loan balance	Varies by loan amount
I — Interest	Lender's cost for lending money	Varies by rate
T — Property Tax	Annual tax divided by 12	0.5%–2.5% of home value/year
I — Insurance	Homeowner's insurance premium	$80–$200/month typically

💡 Pro Tip: If your down payment is below 20% on a conventional loan, add approximately 0.5%–1.5% of the loan amount annually for PMI (Private Mortgage Insurance). FHA loans include a 1.75% upfront MIP plus 0.55%–1.05% annual MIP. Use our calculator and then discuss your full payment with a Quicken Loans partner lender.

Calculator FAQ

Mortgage Calculator Questions

What is the average mortgage payment in 2026?

The average US monthly mortgage payment in 2026 is approximately $2,200–$2,800 for a 30-year fixed loan, depending on home price, down payment, and interest rate. For a $350,000 home with 20% down at 7%, the principal and interest payment is approximately $1,862/month.

Does the calculator include PMI?

Our standard calculator does not include PMI automatically. If your down payment is less than 20% on a conventional loan, add approximately 0.5%–1.5% of the loan amount annually (divided by 12) to your monthly estimate. VA and USDA loans do not require PMI.

What interest rate should I use in the calculator?

Use the current rate estimates from our Quicken Loans mortgage rates page. As a general benchmark for 2026: 30-year fixed rates are approximately 6.8%–7.5%, 15-year fixed rates are approximately 6.2%–6.8%. Your actual rate will depend on your credit score, loan type, and lender.

What is the difference between a 15-year and 30-year mortgage?

A 30-year mortgage has lower monthly payments but you pay significantly more interest over the life of the loan. A 15-year mortgage has higher monthly payments but you build equity faster and pay less total interest — often saving $100,000 or more on a $350,000 loan.

Quicken Loans Mortgage Calculator 2026

🧮 Mortgage Payment Calculator

Monthly Payment Breakdown

Amortization Visualization

Like Your Payment Estimate?

How to Use the Quicken Loans Mortgage Calculator

Step 1: Enter Your Home Price

Step 2: Set Your Down Payment

Step 3: Choose Loan Term

Step 4: Enter Current Interest Rate

Understanding Your PITI Payment

Mortgage Calculator Questions