Why your mortgage bill is higher than this calculator

The loan calculator shows principal and interest only. That is the amortizing part of the loan: the amount that follows the formula and the schedule. Many US mortgages are collected as PITI — principal, interest, taxes, and insurance — and sometimes PMI or HOA dues. Those extra pieces are real money. They are not part of amortization math.

What PITI usually includes

• Principal and interest — the number this site estimates.
• Property tax — often escrowed monthly from the county or city bill.
• Homeowners insurance — also often escrowed.
• PMI — common when the down payment is under 20% on a conventional loan. It can drop later if you have enough equity.
• HOA or condo fees — usually paid to the association, not always through the lender.

How to combine the numbers

Use this site for principal and interest. Take tax and insurance from the lender’s Loan Estimate or a recent tax bill and insurance quote, divide annual amounts by 12, and add them. That is a planning total, not an official escrow analysis. Escrow amounts change when tax or insurance changes, even if your rate does not.

Auto and personal loans

Car loans and personal loans usually do not use PITI. If taxes, title, or a warranty were rolled into the auto loan, put that full financed amount in Loan amount. Ongoing registration and insurance stay outside the payment.

More on the schedule: how amortization works. This is not a closing-cost worksheet and not a quote.