General Mortgage KnowledgeQuestion 101 of 400
Principal and interest is $1,200/month. Annual property taxes are $3,600, annual homeowner's insurance is $1,200, and monthly PMI is $50. What is the total monthly PITI?
a.$1,650
b.$1,500
c.$1,550
d.$1,600
Explanation
PITI = P&I + taxes/12 + insurance/12 + PMI = $1,200 + $300 + $100 + $50 = $1,650. The other answers omit one or more escrow components.
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