PITI Workbench checklist
Questions to ask a lender
In short
Ask each lender to explain how it built the monthly figure on your Loan Estimate, line by line. The answers show which parts are fixed and which can change after closing.
Last reviewed against the primary sources listed below.
Principal and interest
- Is the principal and interest figure fixed for the life of the loan?
- Does the payment shown include any temporary buydown?
Escrow
- Which taxes and insurance are in the escrow estimate, and what amounts did you assume?
- How large is the escrow cushion you will collect at closing?
- How often will you review the escrow account?
Other costs
- Is mortgage insurance included, and when could it end?
- Are homeowners association dues counted in the qualifying payment?
How to use the answers
Put each answer next to the matching line in the workbench to see which pieces you still need to confirm.