What is PITI?
PITI is the handy acronym for your monthly mortgage payment. It’s pronounced like the word “pity” and the letters stand for the four parts of that monthly payment: P stands for Principal That’s the part of the monthly payment used to pay down the balance of the loan. Your monthly principal payments, plus your down payment, add up to the equity you have in your home. I stands for Interest This is what you pay the lender for borrowing the money. T stands for Taxes These are the