HomMetra

Real monthly payment · Principal + Interest + Tax + Insurance

What will this house cost you each month?

The price tag isn't your payment. HomMetra adds property tax, insurance and HOA to interest and principal — so the number you see is what you'll actually budget for.

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Advanced — taxes, insurance & HOA
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Why PITI

The payment your lender quotes isn't the whole cost

Principal and interest are only half the story. Property tax, insurance and HOA are usually escrowed into your real monthly payment. Skip them and your budget is off by hundreds of dollars a month.

  1. Price + down payment set your loan amount.
  2. Rate + term set your principal & interest.
  3. Tax, insurance & HOA are added monthly for the true PITI.
  4. Compare terms, then download the amortization report.

The full monthly picture before you sign

If you're weighing a home purchase, the number your lender gives you only covers principal and interest. This calculator adds property taxes, homeowners insurance, and monthly HOA dues so you see the real monthly obligation from day one. It's built for buyers who want to compare scenarios side by side, whether that means testing different down payment amounts, switching between 15- and 30-year terms, or seeing how a higher interest rate changes the long-term cost. The amortization breakdown shows exactly where each dollar goes over the life of the loan.

Mortgage questions

How is a mortgage monthly payment calculated?

Using the standard amortization formula: payment = loan × rate/12 ÷ (1 − (1 + rate/12)^−months). This produces an even payment where each month you pay a little more principal and a little less interest.

What does PITI stand for?

Principal, Interest, Taxes and Insurance. It's the total a lender typically escrows into your monthly payment — the realistic number, not just the principal-and-interest figure lenders quote up front.

Why is a 15-year mortgage cheaper overall?

A shorter term means interest compounds over far fewer months, so while the monthly payment is higher, the total interest paid is usually less than half of a 30-year loan at the same rate.

How much should my down payment be?

20% avoids private mortgage insurance for most conventional loans. Smaller down payments are common (3–10%), but they raise the loan amount and add PMI until you reach 20% equity.

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