07/02/2026
Your mortgage payment isn't just one number β it's actually four parts working together, known as PITI:
π Principal β pays down the amount you borrowed
π° Interest β the cost of borrowing that money
π Taxes β property taxes, collected monthly and held in escrow
π‘οΈ Insurance β homeowners insurance, plus PMI if your down payment was under 20%
Knowing what each part does makes it easier to read your statement and plan your budget. Save this for next time you're reviewing your payment.
Questions? Happy to help - 610-202-9031, www.swarnamareddy.com
MLO - Swarna Mareddy
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Mortgage Network Solutions
π (302) 252-0100
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