Investor Tools
Mortgage Calculator
Estimate your monthly payment and see a full amortization breakdown. Includes principal & interest, property tax, homeowner's insurance, and PMI when your down payment is less than 20%.
Loan Details
LTV is 90.0% — PMI applies until you reach 20% equity.
Estimated Monthly Payment
$2,935
30-year fixed · $342,000 loan
Payment Breakdown
Annual Principal vs. Interest
Estimates only — for informational and educational use. Not financial, tax, legal, or investment advice. Contact a licensed lender for an official Loan Estimate. See our Terms of Service.
Understanding Your Mortgage Payment (PITI)
A monthly mortgage payment is typically made up of four components — Principal, Interest, Taxes, and Insurance — often called PITI. Lenders use your PITI to calculate your debt-to-income ratio (DTI) when qualifying you for a loan.
Monthly Payment = P&I + Monthly Tax + Monthly Insurance [+ PMI]Principal & Interest (P&I)
The core loan repayment. Early payments are mostly interest; over time, the principal share grows — this is amortization. The calculator shows this shift year by year.
Property Tax
Collected monthly by your lender into an escrow account and paid to the county annually. Florida's effective average is around 0.83%, but rates vary by county and homestead status.
Homeowner's Insurance
Required by all lenders. Florida rates are among the highest in the U.S. due to hurricane exposure — budget $2,000–$5,000/year for most homes.
PMI (Private Mortgage Insurance)
Required when your down payment is less than 20% of the purchase price. PMI is automatically removed once your LTV drops to 80%. Rates typically range from 0.3%–1.5% of the loan amount annually.
Florida Mortgage Tips
- →Apply for Florida's Homestead Exemption to reduce your assessed value by up to $50,000 — lowers your tax escrow payment.
- →20% down eliminates PMI and typically secures better rates — meaningful savings over a 30-year term.
- →Compare 15-year vs. 30-year terms — a 15-year loan has higher monthly payments but dramatically less total interest paid.
Compare Renting vs. Buying in Florida
Use our Rent vs. Buy calculator to see whether buying makes sense over your time horizon — factoring in appreciation, rent increases, and opportunity cost.