Every piece of the monthly housing cost, itemised
Your monthly housing cost, line by line
In short
The monthly cost of owning is more than the loan payment. Lenders call the core of it PITI: principal, interest, taxes and insurance. Add mortgage insurance if your loan has it and HOA dues if the home has them. Enter each figure from your own quotes and bills, and the workbench totals them and shows which part goes through escrow.
Last reviewed against the primary sources listed below.
ToolPITI workbenchEvery line, your figures.BasicsWhat PITI meansThe four letters and what is outside them.TEstimating property taxWhy the seller's bill may not be yours.IEstimating insuranceGetting a real premium early.MIMortgage insurance typesPMI and government loan insurance.HOAHOA and condo duesPaid outside the loan, counted inside the budget.LaterEscrow analysisWhy the payment changes after year one.
Where each figure comes from
| Line | Best source |
|---|---|
| Principal and interest | The rate and amount on your Loan Estimate |
| Property tax | County assessor records |
| Homeowners insurance | A written quote from an insurer |
| Mortgage insurance | Page one of the Loan Estimate |
| HOA dues | The association's budget or resale documents |
Why not use a typical figure
Taxes, premiums and dues vary street by street. A figure you looked up for the actual home beats any average, which is why every field here starts empty.