or PMI. This insurance protects the lender in case you default on the mortgage. It's often required for borrowers with a very small down payment or with less-than-great credit. Your monthly PMI premium is simply added on top of your PITI payment. ...
Some mortgages also carry private mortgage insurance or a mortgage insurance premium. To add it into your PITI, divide its total annual premium by 12. A $2,150 PMI premium would cost an additional $179.17 per month, for example. Gather the following facts about your mortgage: the original l...