PropertyRentalCalculator

Calculators › Mortgage Calculator

Financing

Mortgage Calculator for Rental Property

By , Property Rental Calculator

Free calculator for a rental or home's full monthly PITI payment, done instantly, no sign-up needed.

Loan basics

$
%
%
yrs
Taxes, insurance & fees (optional)
$
$
$
%

Only applied when your down payment is under 20%.

$

Extra toward principal each month. Shortens the loan and cuts interest.

yrs

Results

An estimate, not a loan offer. Actual rate, taxes, insurance, and PMI depend on your lender, location, and qualification.

How to use this calculator

Enter the home price, down payment, rate, and loan term, and the payment updates as you type. Open "Taxes, insurance & fees" to add property tax, insurance, HOA dues, and PMI for the full monthly PITI number.

What goes into the payment

The four basics set your principal and interest. The optional fields add the rest of what lenders call PITI: property taxes and homeowner's insurance, usually collected monthly into an escrow account, plus any HOA dues and private mortgage insurance. PMI typically applies when you put less than 20% down and falls off once you reach about 78% loan-to-value, so this tool only adds it below a 20% down payment.

A worked example

On a $300,000 home with 20% down at 7% over 30 years, the loan is $240,000 and principal and interest run about $1,597 a month. Add $3,600 of annual taxes and $1,500 of insurance and the full payment is roughly $2,022. Over the life of the loan you would pay around $335,000 in interest, which is why even a small rate change moves the number so much.

Common questions

What is PITI?

Principal, Interest, Taxes, and Insurance, the four parts of a typical escrowed mortgage payment. This tool also lets you add HOA dues and PMI.

When does PMI drop off?

Private mortgage insurance generally applies when you put less than 20% down and can be removed once your loan balance reaches about 78% of the original value. This calculator only includes it below a 20% down payment.

Can I use this for an investment property?

Yes. Enter the investment terms your lender quotes. To analyze the deal itself, pair it with the Rental Property Calculator.

Does paying extra principal help?

Quite a bit. Extra payments reduce the balance interest is charged on, so they compound into years off the loan and large interest savings over time.

How this is built and kept current

Cedrick Reese, a web developer, built this calculator on the standard fixed-rate amortization formula every mortgage lender uses to split a payment into principal and interest, then layered in property taxes, insurance, HOA dues, and PMI the way a real escrowed payment works. The amortization schedule and payoff math are checked by running the numbers forward year by year and confirming the balance reaches zero exactly at the loan term, and the PMI cutoff below a 20% down payment matches standard mortgage servicing practice. If lending conventions around escrow or PMI cancellation change, this page gets updated to match.

Related tools and guides