PITIA, also written ‘PITI’ or ‘PITIAO’, is an acronym representing all pieces of housing expenses. The 4 main pieces consist of principal, interest, property taxes, and homeowners insurance. The ‘A’ & ‘O’ stand for Association (aka HOA) and Other, respectively.
In addition to PITI, certain property and scenarios can include:
Special Assessment Taxes
Mello Roos
CFDs
Secondary HOA Dues
Less/offset: Rental Income
When used in the lending context, PITIA usually refers to a property’s total financial weight on a borrower’s mthly cash flows.