Buyers
PITI Calculator
Your true monthly housing cost, principal, interest, taxes, insurance, PMI, and HOA all in one number.
Loan & Property Details
Total Monthly Payment (PITI)
Principal & Interest
$2,581
Property Tax
$375
Homeowners Insurance
$542
Loan Amount
$400,000
Down Payment
$100,000
Total Interest (life)
$529,200
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Know exactly what you qualify for before you start touring homes.
Florida Homeowner Tips
Homestead Exemption
Florida homeowners can reduce assessed value by up to $50,000, lowering your property tax bill significantly.
Insurance is higher in Florida
Hurricane exposure means homeowners insurance in South Florida often runs $4,000-$10,000+/yr depending on location and coverage.
HOA fees vary widely
South Florida condos and gated communities can have HOA fees from $200 to over $2,000/month. Always factor this in.
How the PITI calculator works
This tool builds your full monthly payment, PITI, by adding four parts plus dues: principal and interest from the amortized loan formula, one-twelfth of the annual property tax, one-twelfth of the annual homeowners and flood insurance premium, and any monthly condo or HOA fee. Lenders escrow the tax and insurance portions, so PITI reflects what you actually pay.
On a $450,000 home with 20% down at 6.9% over 30 years, principal and interest is about $2,371. Add roughly $450 a month for taxes near 1.2%, about $333 for a $4,000 annual insurance premium, and a $250 HOA fee, and the total is about $3,404 per month.
PITI is the honest number for South Florida buyers because taxes, wind and flood insurance, and HOA or condo dues can add well over $1,000 a month on top of principal and interest. The $50,000 homestead exemption lowers the taxable value on a primary residence, so factor it in when you estimate the tax line for a home you will live in.