Real Estate Terms Glossary
What is PITI?
PITI stands for or represents Principle, Interest, Taxes, and Insurance, making up your monthly mortgage payment. However, note that PITI does not include the closing costs for your mortgage. It is simple to assume that you can easily afford a home if you focus solely on your mortgage’s principal amount and interest costs — and do not account for expenses, such as annual property taxes or insurance.
On the other hand, focusing on PITI is important as it will provide you with an accurate picture of the actual cost of homeownership.
Examples of PITI
- Example 1: Principle
- Example 2: Taxes
Here’s Investopedia’s definition of PITI .
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I received my undergraduate degree from Columbia University and my JD from UC Davis School of Law. I specialize in drafting, reviewing, and litigating contracts, general civil litigation, restraining orders, and family law. I have helped entrepreneurs form their business entities and grow their small businesses. This area of my practice has focused heavily on YouTubers, podcasters, and individuals creating unique online platforms. In the family law context, I have helped my clients petition for and obtain custody of their children and modify existing custody arrangements.
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Steven G.
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