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You are here: Home / Buyers / Key Term Tuesday: PITI

Key Term Tuesday: PITI

January 23, 2018 By Rebecca Jacks

We understand how frustrating it can be to search for a home in Austin. Half the battle is learning the key terms and what they mean in regards to Texas real estate. So each week we bring you Key Term Tuesday – our way of helping you decode the industry jargon that keeps you from owning your home search.

PITI

What is PITI?

P-I-T-I is an acronym for Principle, Interest, Taxes and Insurance. It’s shorthand for the four elements of your mortgage payment usually expressed on a monthly basis.
P = the amount of your loan payment that applies to your principle pay down
Interest = the amount of your loan payment that applies to the interest you owe
Taxes = the amount of your property tax payment
Insurance = the amount of your homeowner’s insurance premium
Lenders will use this number to determine how large a mortgage you can afford.

Looking for a Real Estate Expert?

Our team has a combined 55+ years of experience helping home buyers understand the r. Check out our approach to Buying a Home in Austin to learn more about our team and how we work. Then, call us at (512) 827-8323 or email us at info@11OaksRealty.com to schedule a no obligation consultation.

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Filed Under: Buyers Tagged With: Buyer Tips, First Time Home Buyers, Frequent Buyer Questions, Real Estate Key Terms, Seller Tips

About Rebecca Jacks

Rebecca has founded her success in real estate on a commitment to personalized service. Clients appreciate her dedication to not only the success of their transaction, but their very peace of mind. She is particularly adept at creating bridges to make home buying and relocation as seamless as possible.

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Raymond Stoklosa – Broker/Owner, CRS

Raymond Stoklosa is the Chairman and Managing Broker of Eleven Oaks Realty. Raymond has been a respected authority in residential real estate since 1978. Having sold more than $150 million worth of real estate... Read More…

Rebecca Jacks – CRS, ABR, SFR

Rebecca Jacks is the Chief Operating Officer of Eleven Oaks Realty. She specializes in relocating buyers and home sales in Austin and surrounding suburbs. Rebecca brings a passion for customer-service to the leadership team. Read More…

Cassandra Stoklosa – MBA

Cassandra joined Eleven Oaks Realty following a successful career managing digital campaigns at several household brands including Walmart, L’Oreal, and Golfsmith. She has also worked in real estate marketing in three of the hottest markets in the U.S. – New York City, San Francisco and Austin. Read More…

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