A couple finances a house valued at $150,000. The monthly principal and interest payment has been determined to be $599.32. Taxes on the property are estimated to be $621 per year. Insurance on the property is projected to cost $685 per year.

Question

A couple finances a house valued at $150,000. The monthly principal and interest payment has been determined to be $599.32. Taxes on the property are estimated to be $621 per year. Insurance on the property is projected to cost $685 per year.
The monthly PITI payment is: $ 1

MathMate · Answer

PITI means Principal, interest, taxes and insurance. Add up the items, and you have the PITI payment.