What Makes Up My House Payment? PITI = Principal + Interest + Taxes + Insurance

Sean Hessby Sean Hess (Sean@StAugTeam.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com). Join us on Facebook and Google+.

What makes up your house payment?

PITI, which stands for Principal – Interest – Taxes – Insurance.

If you put down less than 20%, you also have to think about PMI (Private Mortgage Insurance) or Funding Fees (if it’s a government backed loan like FHA, VA or USDA).

And finally, while it’s not part of your housing payment, you may have Condo or Homeowners Association fees due every month.

My partner Kate Stevens and I break it down for you in this short video below:

Hire St. Augustine Team Realty when you go to buy or sell.  Email us at ReQuestion@StAugTeam.com or call Broker Sean Hess at (904) 386-8327.

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