Housing Expense

Real Estate Mortgage Insurance
 
 

Definition of "Housing Expense"

Shauna M. Talbot real estate agent
Shauna M. Talbot Talbot Realty LLC (MD)
Blue Wave Realty (FL)

The sum of the monthly mortgage payment, hazard insurance, property taxes, and homeowner association fees. Housing expense is sometimes referred to as PITI, standing for principal, interest, taxes, and insurance.

Have a question or comment?
We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 
 

 

Popular Mortgage Terms

Maturity

The period until the last payment is due. The maturity is usually but not always the same as the period used to calculate the mortgage payment. ...

Generic Prices

Prices that assume a more or less standardized set of transaction characteristics that generally command the lowest prices. Generic prices are distinguished from transaction specific ...

Non-Permanent Resident Alien

A non-citizen with a green card employed in the U.S. Non-permanent resident aliens are subject to somewhat more restrictive qualification requirements than U.S. citizens. Permanent ...

Secondary Mortgage Markets

Markets in which mortgages or mortgage-backed securities are bought and sold. 'Whole Loan' Markets Versus Securities Markets: Secondary mortgage markets are of two general types. 'Whole ...

Balloon

The loan balance remaining at the time the loan contract calls for full repayment. ...

Permanent Buydown

Same as term Points: An upfront cash payment required by the lender as part of the charge for the loan, expressed as a percent of the loan amount; e.g., '3 points' means a charge equal to ...

Loan Amount

The amount the borrower promises to repay, as set forth in the loan contract. The loan amount may exceed the original amount requested by the borrower if he or she elects to include ...

Payment Adjustment Cap

Limit on the size of payment change on an adjustable rate mortgage. ...

Popular Mortgage Questions

Should I Consolidate My Debt?

Discover your potential monthly savings by combining your bills into a single source. Eliminate high interest rate credit card and installment loans with a tax deductible (consult you tax ...

What Is The APR For This ARM Loan?

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input parameters. There are various ways that companies compute APR. Mortgage Loan Fees may ...

How Much Can I Afford ?

Find out what type of home is in your budget by entering a few numbers into our calculator. Our calculator is based on standard affordability ratios used to determine qualification for ...

...

...

What Is The Tax Benefits Of Buying A Home?

RealEstateAgent.com calculator estimates the tax benefit of buying a home. Input your loan parameters and the month you purchased the home. Since home interest and points are captured in ...

What Is A Wraparound Mortgage?

A wraparound mortgage is a new mortgage that includes the remaining balance on an old mortgage, plus a new amount. ...

What Is A Mortgagee?

A morgagee is the lender. ...

Find a Real Estate Agent

RealEstateAgent.com reviews
Read why Real Estate Agent rates 5 Stars in over 20 Agents Reviews
Read Reviews

Agents join here
Add real estate terms app
on your Website

Real Estate Advice

Living near an airport: the good and the bad Essential Home Items Your Place Might be Missing Working Couples in Real Estate Things Home Sellers Should NOT Do Best Cities for Families

FAQ

I dont know the zip code of my areas. How do I find an agent that is right for me in my area. What is a survey? What is a rate lock? Do you have any tips to help me manage my investing? What is a default?