Calculating Total Payment (Piti) - Texas Instruments BA Real Estate User Manual

Calculating Total Payment (PITI)

Assume that the local property-tax
rate is 1.5% annually and the annual
insurance rate is 0.5%. If the selling
price of the house is $153,000, what
will be the total monthly payment?
1. Enter the local property-tax rate.
Press 1.5
2. Enter the annual insurance rate.
Press .5
3. Enter the selling price.
Press 153
4. Compute PITI.
Press
Note: The P&I payment was calculated on the previous page. The property
tax rate ( ) and the insurance rate (
until you change them or remove the batteries. Turning the calculator off
does not clear this information.
Monthly house payments often include not only principal
and interest (the payback on the loan), but also property
taxes and insurance. Using the data you entered in the
previous example, you can compute the total payment
including principal, interest, taxes, and insurance (PITI).
.
.
.
.
TX%=
IS% =
PRC= 153,000.00
PITI=
) will remain in the calculator
Gettmg Started 7
1.50
0.50
-1,208.89