When it comes to your mortgage, it’s more than just principal and interest! Your monthly payment may also include property taxes and homeowners insurance premiums bundled together.

Here’s the scoop: Your payment covers it all and is known as PITI – Principal, Interest, Taxes, and Insurance. It’s all conveniently handled through an escrow account, so you don’t have to worry about separate bills.

Curious about breaking down your monthly costs? TYou can try out a mortgage calculator to see the bigger picture, including property taxes and insurance.