What is PITI?

PITI is principle, interest, taxes and insurance all of which make up your total monthly mortgage payment.  When you get a VA loan you will be borrowing money from a bank or mortgage company and you will also be charged interest rate over a certain amount of years.

There is a calculation that takes your loan amount or money borrowed and/or interest rates along with the term of your loan which calculates your principal and interest payment or PI.  As described above most of the loans have an escrow account which is your taxes and homeowners insurance.  When you take your escrow account add it to your monthly principal and interest payment you are left with your PITI or total monthly mortgage payment




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