PITI payment

English

Noun

PITI payment (plural PITI payments)

1. (banking) The amount paid per month in Principal, Interest, Taxes and Insurance for a given property. Used in determining the debt/income ratio.

   You can't afford this house. Your PITI payment would be too high for your income.

Related terms

• insurance
• interest
• payment
• principal
• tax

 

See also

• mortgage
• debt/income ratio