PITI Calculator
(Principal, Interest, Taxes & Insurance)

When lenders underwrite your loan, they calculate your insurance and property taxes as if they were paid monthly. This calculator does the same thing.

Input Your Data Here

Years:	Interest:	Loan Principal:
Annual Tax:	Annual Insurance:

Monthly Payment Results

Principal & Interest
Property Taxes
Homeowners Insurance
Total PITI Payment

The Loan Principal is the actual loan amount less any down payments. Note: You may have to add to your PITI payment mortgage insurance, if required, and Homeowner's Association Fees.
The accuracy and applicability of this calculator is not guaranteed.

Items to have ready when you apply for a Loan...

Income Items

W2 forms for the last two years
Paystubs covering a 30 day period
Federal tax returns (1040’s) for the last two years, if:
- you are self-employed
- earn more than 25% of your income from commissions or bonuses
- own rental property
- or are in a career where you are likely to take non-reimbursed business expenses).
Year-to-Date Profit and Loss Statement (for self employed)
Corporate or Partnership tax returns (if applicable)
Pension Award letter (for retired individuals)
Social Security Award letters (for those on Social Security)

Asset Items

Bank statements for previous two months (sometimes three) on all accounts. All pages.
Statements for two months on all stocks, mutual funds, bonds, etcetera
Copy of latest 401K statement (or other retirement assets)
Explanations for any large deposits and source of those funds
Copy of HUD1 Settlement Statement on recent sales of homes
Copy of Estimated HUD1 Settlement Statement if a previous home is for sale, but not yet closed
Gift letter (if some of the funds come as a gift from a family member)
Gifts can also require:
- Verification of donor’s ability to make the gift (bank statement)
- Copy of the check used to make the gift
- Copy of the deposit receipt showing the funds deposited into bank account or escrow

Credit Items

Landlord’s name, address, and phone number (for verification of rental)
Explanations for any of the following items which may appear on your credit report:
- Late payments
- Credit inquiries in the last 90 days
- Charge-offs
- Collections
- Judgments
- Liens
Copy of bankruptcy papers if you have filed bankruptcy within the last seven years

Other

Copy of purchase agreement (if you have already made an offer)
To document receipt of child support (if you desire to show it as income)
- Copy of Divorce Settlement (to show the amount)
- Copies of twelve months canceled checks to document actual receipt of funds

FHA Loans

Copy of Social Security Card (or other documentation of social security number)
Copy of Driver’s license

VA Loans

Copy of DD214

Refinances

Copy of Note on existing loan
Copy of HUD1 Settlement Statement on existing loan
Name, address, phone number, loan number of existing loan/lender