PITI

PITI is an acronym that stands for principal, interest, taxes, and insurance, which are the four components of a mortgage payment.

In relation to a mortgage, PITI (pronounced like the word “pity”) is an acronym for a mortgage payment that is the sum of monthly principal, the total monthly payment if fully amortized.

If private mortgage insurance is required, that will be included in the amount as well.

Posted in Refinance Glossary.