Mortgage Payment PITI
When you are looking to reduce costs on your mortgage it helps to use a mortgage calculator piti that calculates the amounts of each component of PITI (principal, interest, taxes and insurance). Knowing how each of these breaks down is crucial to understanding if you're going to stay put, try to buy, try to refinance, or try to sell.
Mortgage calculator piti calculations to decide to stay put or sell can have a big effect on your future decisions.
By calculating the bi-weekly mortgage payment, payoff date and bi-weekly interest amount you can see all the options you have to get a truly effective financial strategy. A 30 year loan when paid off on a bi-weekly mortgage payment will be cut to 26.75 years.
On a $240k loan that comes to a savings of $41k plus over 3 years of no payments all for basically making a math correction and paying the same amount to the bank each month. Awesome!
That PITI payment will soon be a thing of the past by using a mortgage calculator piti to determine the best loan amount & mortgage payment for your situation.