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bjbj 3.9.13 It's a PITI Hi, Carrie Guarrero here with another edition of Diction Carrie.
Today we re going to talk about PITI and it s a PITI. The reality of PITI is that that
s what makes up your payment. Now you might wonder why I may dedicate a whole Diction
Carrie to what is a PITI and I will unpack what that is here in a moment. But the reality
is that oftentimes, it can end up being something that leaves people in a state of pity. Online
calculators for example, and you can find another blog about that on my site. But online
calculators oftentimes don t consider all parts of your mortgage payment. You re going
to have principal and interest, taxes and insurance in your payment and your scenario
may very well differ from that that the calculator has built in it for its calculations. Expert
mortgage advice, people here who are qualified to assess your individual situation and calculate
your actual payments for you are here to help and make sure that you don t end up in a situation
where you re disheartened by a payment that s entirely different than what you calculated
online. Now one of the things about PITI that you want to consider that changes most dramatically
from one house to the next is your property taxes. Keep in mind those are going to vary.
You can have two equally priced homes. Say you have two $200,000 homes. One may have
taxes of $3600 a year and another may be $4200. Well that payment difference definitely is
going to come through in your PITI. The payment is going to be higher on the property with
higher taxes. Mortgage insurance is the other hugely varying factor from one client to the
next. Again you can have equally priced loans, both at $200,000, and the mortgage insurance
can vary dramatically from one scenario to the next. Bottom line, consult a professional.
We re truly here to help. [Content_Types].xml Iw}, $yi} _rels/.rels theme/theme/themeManager.xml
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