What is PITI?

The acronym PITI stands for principal, interest, taxes, and insurance. These are the four components that make up a monthly mortgage payment. When determining your eligibility for a loan, your mortgage lender will look at your debt-to-income ratios, comparing your PITI (or PITI combined with other debt) to your monthly gross income. This helps them to determine how much you can afford.The infographic below helps  illustrate how each component is different. We have also provided examples of the average home cost and the associated PITI for the states that First Bank serves. We hope it helps.

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Plymouth Rock Assurance

For over 30 years, Plymouth Rock Assurance has provided its customers with more than just insurance. Headquartered in Downtown Boston, Plymouth Rock offers auto insurance to drivers in Massachusetts and Connecticut through a network of more than 400 local independent agents. Backed by a local team of compassionate professionals, Plymouth Rock gives its customers the chance to do business the way they want with full confidence that their best interest is always the top priority. Standing behind its commitment to the highest level of customer service, Plymouth Rock’s industry-leading service.

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