What does PITI include?

Principal, interest, property taxes, and homeowners insurance. This calculator also itemizes PMI and HOA fees.

When is PMI required?

PMI is commonly required for conventional mortgages when the down payment is below 20%. Rules and cancellation timing vary by loan.

What is a healthy housing DTI?

Many lenders use 28% of gross income for housing and 36% for total debt as reference points, while underwriting varies by borrower and program.

Does the Fed set mortgage rates?

No. Mortgage rates respond to bond markets, inflation expectations, lender pricing, and broader monetary conditions; Fed policy can influence those inputs indirectly.

Built on trusted US housing data

Make the housing move
your future self will thank you for.

Compare renting, buying, and paying down your mortgage with precise math—without handing your phone number to a broker.

Three decisions. One clear answer.

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Move the numbers. See the tradeoffs change instantly.

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Your scenario

Rent or buy?

Current monthly rent$2,800Home purchase price$625K

Estimated loan amount $531,250

Down payment15%PMI includedMortgage rate6.55%30-year fixed

Planning horizon

PMI adds about $332 each month

At 15% down, this estimate includes PMI until your loan-to-value reaches 80%.

Texas has no state income tax

Investment income may face a simpler state-tax picture. Confirm your situation with a qualified tax professional.

Projected outcome

Renting stays ahead through year 10

Rent advantage

Monthly PITI + HOA$4,921Taxes, insurance & PMI included

10-year difference$194,403more invested assets by renting

Home equity after sale costsRenter investment portfolioAssumes 3% appreciation, 3% rent growth, 5% investment return

Numbers you can inspect

Grounded in benchmarks.
Built for real life.

We use a Freddie Mac PMMS benchmark rate as an editable starting point, state property-tax averages, and standard US insurance and PMI assumptions. Every decision stays yours.

Freddie Mac PMMS US Census data

Official benchmarks

Seeded with the latest verified PMMS snapshot: 6.55% for a 30-year fixed mortgage.

Your data stays yours

Calculations happen in your browser. No account, tracking pixel, or broker handoff.

Transparent assumptions

Appreciation, investment return, maintenance, sale costs, taxes, and PMI are all modeled.

Decision support

Planning estimates—not lending, tax, or investment advice. Quotes will vary.

Plain-English answers

The fine print, made useful

Principal, mortgage interest, property taxes, and homeowners insurance. Homnest.co also breaks out PMI and HOA fees so the monthly total is closer to what actually leaves your account.

For this estimate, PMI applies below 20% down at 0.75% annually. Actual rates commonly vary from roughly 0.5%–1.5% based on credit, loan-to-value, and program.

Lenders often reference a 28% housing ratio and 36% total-debt ratio based on gross income. Your approval can differ. Our rent tool uses take-home pay to focus on lived affordability.

Not directly. Mortgage rates track bond-market expectations, inflation, risk, and lender pricing. Fed policy influences those conditions, but mortgage rates can move before—or differently from—the policy rate.

Make the housing moveyour future self will thank you for.