PITI stands for principal, interest, taxes, and insurance. It is basically your monthly payment.

Principal is the actual amount of your loan. If you borrowed $200,000, the principal is $200,000. Every time you make a monthly payment you're paying a part of the principal and reducing the amount you owe on the home and increasing the part that you own (your equity.)

Interest is the amount that the lender charges you for borrowing the money (a percentage of the principal). Interest can change your monthly payments when interest rates change if you have an adjustable rate mortgage.

Property taxes are made on real estate generally at county level and used to fund schools, road work, police and municipal services. Property taxes vary by county and are part of the equation that determines your mortgage payment.

Homeowner's insurance may be collected by your lender and paid to your insurer.


What is a Loan that Originated in a Portfolio?
What is the "Secondary Market"?
What Kind of Documents are Required for a Loan?
What is a Credit Check and Who Performs Them?
What Does a Lender Have to Disclose to You by Law?
What is PITI?
Why Do I Need Private Mortgage Insurance (PMI)?
Where Do I Get Private Mortgage Insurance (PMI)?
What is an Interest-Only Loan?
What are the Limits on FHA Loans?
What Is Seller Financing?
What are the Primary Institutions of Money and Mortgages?
What is the Advantage of Using a Broker for my Home Loan?

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Type of Loan

Mortgage Refinance
Home Equity Loan or Line
Debt Consolidation
New Home Loan

In what state is the property in question located?

What is the property type?

Historical Federal Funds Rate

30-Year Fixed Rate -

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15-Year Fixed Rate -

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*National Rates