Housing Expense

Housing Expense

The sum of the monthly mortgage payment, hazard insurance,property taxes, and homeowner association fees.

Housing expense is sometimes referred to as PITI, standing for principal, interest, taxes, and insurance.

References in periodicals archive ?
She added that when the down payment is factored in, 49% of incomes on Long Island were going to housing expense, while in New York City, the number was 74%.
The percentage of New Jersey homeowners paying 35% or more of their pretax income for housing expense increased to 29% of all loans in 2004," said Ms.
9%, 41,500 jobs have been added in the last 12 months, and only 29% of household income is going to housing expense.
Meanwhile, Qatar has been ranked first in terms of cost of living in the region, with housing expense being its main driver, said a recent market intelligence report.
As a general target, lenders like to see your housing expense ratio come in at no higher than 28 percent of gross monthly income, though there is flexibility to go higher if other elements of your application are viewed as strong.
The audit of Senator Mike Duffy's travel and housing expense claims shows he was on Senate business for two days during the 2011 election but an invoice from Duffy shows he was campaigning and seeking reimbursement from Conservative candidates.
Mortgage payments were the only housing expense category to see a fall between March 2008 and March 2011 and also recorded the biggest decline over the past year (-2 per cent).
Expressed as a percent of your monthly income, this is called your housing expense ratio.
The move was unveiled as senior Tory MP Bernard Jenkin was ordered to repay a record pounds 63,250 in housing expense claims.
Karen Jurasek, president/ CEO of Generations CU in Rockford, said many of the nonprofit partners in the program provide essential services, such as housing and job training, "but their clients lack the skills necessary to manage their housing expense and their paycheck.

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