Quick Answer: PITI stands for principal, interest, taxes, and insurance. It is the number a loan officer puts in the housing-expense box. If you only Google “mortgage payment” and get P&I, you will under-budget.
Run these numbers
PITI stands for principal, interest, taxes, and insurance. It is the number a loan officer puts in the housing-expense box. If you only Google “mortgage payment” and get P&I, you will under-budget.
The four pieces
Principal reduces the balance. Interest is the lender’s charge. Together they are the amortizing payment. Taxes are the property tax escrow. Insurance is homeowners (and sometimes flood) escrow. PMI or MIP is extra. HOA is extra. Flood insurance in a special flood hazard area is extra.
On a $350,000 home, 20% down, 6.5% 30-year, P&I ≈ $1,770. Taxes at 1.2% ≈ $350. Insurance at 0.35% ≈ $102. PITI ≈ $2,222. That is the figure to compare with rent, not $1,770.
Worked example
Open the PITI calculator. Leave 20% down. Toggle tax from 0.8% to 1.6% and watch only the tax line move. That is PITI teaching itself. Educational estimate, not a servicing statement.
Mortgage Calculator editorial team
Organization byline. Pages are editorially reviewed; we do not invent CFA/CFP credentials or user-count testimonials. Formulas are documented on the methodology page.
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