The percentage of gross income allocated for payments of principal, interest, taxes, and heat (P.I.T.H.) includes 50% of condominium maintenance fees or 100% of the annual site lease for leasehold tenure. This calculation helps determine the affordability of housing costs relative to income, ensuring that homeowners can manage their financial obligations without overextending themselves. It is a crucial factor in mortgage approval and financial planning.

*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*

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