Definition
The four horsemen of monthly housing payments: Principal, Interest, Taxes, and Insurance. It's the total amount you'll shell out each month to keep a roof over your head and the bank off your back.
Example Usage
My PITI is $2,400 a month, which sounds terrible until you remember I was paying $2,200 in rent for a place half this size.
Origin
Mortgage industry acronym from the late 20th century
Fun Fact
Lenders use PITI to calculate your housing expense ratio, which ideally shouldn't exceed 28% of your gross monthly income—a guideline that makes millennials laugh and cry simultaneously.
Source: Mortgage lending terminology
Related Terms
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