PITI
Principal, Interest, Taxes, and Insurance — the four parts of a full monthly mortgage payment.
PITI stands for Principal, Interest, Taxes, and Insurance — the four components that make up a complete monthly mortgage payment. Lenders assess affordability against the full PITI figure, not just principal and interest.
Property taxes and homeowners insurance are typically collected monthly into an escrow account, and private mortgage insurance (PMI) may be added when the down payment is below 20%.