Description

PITI refers to the combined costs of principal, interest, taxes, and insurance associated with a mortgage. It represents the total monthly payment a borrower must make to cover these essential components of home financing.

Interpreter Notes

Interpreters should be aware that this term is often used in financial contexts rather than medical ones, which may lead to confusion. It is important to maintain a formal register and avoid colloquial terms. Variants like 'gastos de la hipoteca' may be heard but should be avoided in formal contexts.

Example Sentences

EN: The lender explained that the PITI would be higher than expected due to increased property taxes.

ES: El prestamista explicó que el PITI sería más alto de lo esperado debido al aumento de los impuestos sobre la propiedad.

Common Interpreter Mistakes

Confusing PITI with other mortgage-related terms; misinterpreting the components of PITI; using informal language instead of formal terminology.