PITI is calculated on the 1st mortgage only.
P = Your PITI is the total amount of what you’ll owe every month. Principal, is the amount of the sale price of your home, minus the amount of your down payment.
I = Your interest, is a percentage of the principal you still owe back.
T = Property taxes, also known as real estate taxes, are charged for real estate
property, like the house or building on the property, or even the land itself. Typically, this is part of you escrow and is paid to your county or state as it is due.
I = Insurance to protect your home investment. Typically, this is part of your escrow and is paid to your homeowner insurance directly once a year.
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