Mortgage Payment Calculator

Why “PITI” matters more than the rate

PITI stands for principal, interest, taxes and insurance — the four pieces that make up a mortgage payment. Buyers usually shop the interest rate and forget that property taxes, homeowners insurance, mortgage insurance and HOA dues can add several hundred dollars a month on top of the loan payment. Two homes at the same price can carry very different monthly costs once those line items are included.

What to expect in Colorado

Residential property tax along the Front Range generally runs in the neighborhood of half a percent of value per year, which is low compared with much of the country, though it varies by county, municipality and any special districts attached to the property. Newer subdivisions frequently sit inside a metropolitan district that adds its own mill levy, and that is one of the most common surprises I see buyers run into. Always check the actual tax bill and any district disclosures for the specific address rather than assuming a neighborhood average.

The PMI threshold

If your down payment is under twenty percent on a conventional loan, you will usually carry private mortgage insurance until you reach roughly twenty percent equity. This calculator adds PMI automatically below that threshold so the estimate stays honest. It is worth modeling a couple of down payment scenarios side by side — the jump from fifteen to twenty percent down often saves more per month than shaving an eighth off the interest rate.

Common questions

Does this include property taxes and insurance?

Yes. You can enter a property tax rate or a known annual amount, plus annual homeowners insurance, monthly HOA dues, and PMI is added automatically when your down payment is below twenty percent.

Is this a loan pre-approval?

No. This is an educational estimate. Your actual payment depends on the specific property, your credit profile, the lender, and current pricing. Use it to plan, then get a real pre-approval before you write an offer.

Why is my quoted payment different from this estimate?

Usually taxes or insurance. Estimates often use county averages, while your quote uses the actual tax bill and an insurance quote for that address. Metropolitan district levies in newer Colorado subdivisions are the most common cause of a large gap.

More calculators

• Rate Buydown & Points — Permanent points and 1-0, 1-1, 2-1, 3-2-1 temporary buydowns
• Affordability & DTI — What price you qualify for, and what you should actually spend
• Rent vs. Buy — Break-even year and net position over time
• Seller Net Sheet — What you actually walk away with after costs and payoff
• Refinance Break-Even — Monthly savings, break-even month, and lifetime interest
• Investment Property ROI — Cash flow, cap rate, DSCR and total return with leverage

Want these numbers run on a real address? Schedule your strategy call →

Educational estimate only — not a loan approval, appraisal, or tax advice. Michael Rush is a licensed REALTOR® with Keller Williams Realty DTC, not a lender, CPA, or attorney. Equal Housing Opportunity.