Mortgage payment with taxes, insurance and PMI

A basic payment is only principal and interest. A useful home budget includes the costs that arrive with it.

Updated July 21, 2026

Start with the full housing payment

A mortgage quote often highlights principal and interest. Your monthly housing cost can also include property taxes, homeowners insurance, private mortgage insurance, association fees and other recurring property expenses.

The Consumer Financial Protection Bureau uses PITI as shorthand for principal, interest, taxes and insurance. Mortgage insurance can be another monthly cost when the down payment or loan program requires it. Keep each input separate so you can update one estimate without changing the loan itself.

Inputs to collect

  • Home price and down payment
  • Loan interest rate and term
  • Annual property tax estimate
  • Annual homeowners insurance premium
  • Monthly PMI or other mortgage insurance
  • Association dues and recurring property expenses

Convert annual costs to monthly costs

Divide an annual tax or insurance estimate by 12 before adding it to the monthly budget. Use the lender or insurer estimate when available. Public averages are useful for early planning, but they do not describe a specific property.

Example

A $2,275 principal-and-interest payment plus $500 in monthly property tax, $150 in homeowners insurance and $85 in PMI produces an estimated total of $3,010 per month. Association fees and maintenance would still sit outside that figure unless you add them separately.

Model it in Bricks Calc

  1. Open a new Mortgage calculation.
  2. Enter the home price, down payment, rate and loan term.
  3. Add property tax, homeowners insurance and PMI in their matching fields.
  4. Add recurring expenses that belong in your personal housing budget.
  5. Review the monthly payment breakdown, then save the plan.

Duplicate the saved plan before testing another tax estimate, insurance quote or down payment. That preserves a clean comparison.

Check the estimate before deciding

Confirm whether the lender quote already includes escrowed taxes and insurance so you do not count them twice. Revisit the numbers when you have a real property address, insurance quote and loan estimate.

Bricks Calc is a planning tool, not a lender or financial adviser. Estimates do not include every charge that may appear in a loan or property budget.

Calculate the whole payment

Build the mortgage, add the real monthly costs, and keep the scenario on your Apple devices.

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