PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a typical monthly mortgage payment. Some lenders also include HOA dues and PMI/MIP in the PITI calculation, in which case you'll see PITIA.

When a lender or calculator quotes a monthly payment, ask whether the number is just P&I or full PITI. The difference can be hundreds of dollars per month, especially in high-tax states.

DTI calculations use full PITI (plus HOA, plus PMI/MIP if applicable). When you're estimating affordability, always work with the full PITI number — not just the principal and interest.

Related terms

Process

Escrow Account

An account the lender uses to collect property taxes and homeowners insurance with your mortgage payment.

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Costs & Pricing

Property Tax

The annual tax charged by the local government based on your property's assessed value.

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Insurance

Homeowners Insurance

Insurance covering damage to your home and personal property. Required by every mortgage lender.

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Underwriting

Front-End Ratio

The portion of your gross monthly income that goes only to your housing payment.

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