Cracking the Monthly Math of Homebuying: PITI, PMI, and the Rent-or-Buy Decision

The piece reframes homeownership from fixating on a home's sticker price to understanding monthly costs, explaining how a 6–9% down payment can trigger PMI, how lenders estimate affordability with debt-to-income (DTI) ratios and the monthly PITI (principal, interest, taxes, and insurance)—and why renting isn’t always safer. It weighs the stability and potential tax benefits of a fixed-rate mortgage against the flexibility and equity built by ownership, and advises getting a thoughtful pre-approval. It also promotes Progressive’s UpPayment program, which offers up to $13,500 in down-payment assistance to eligible first-time buyers.