Principal, Interest, Taxes, Insurance - PITI
- Principal, Interest, Taxes, Insurance - PITI
- The components of a mortgage payment. Principal is the money used to pay down the balance of the loan; interest is the charge you pay to the lender for the privilege of borrowing the money; taxes refer to the property taxes you pay as a homeowner and insurance refers to both your property insurance and your private mortgage insurance.
PITI is typically quoted on a monthly basis and compared to a borrower's monthly gross income by means of computing the individual's front-end and back-end ratios, which are used to approve mortgage loans. Generally, mortgage lenders prefer PITI to be equal to, or less than 28%, of a borrower's gross monthly income.
Investment dictionary.
Academic.
2012.
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PITI. сокр. PRINCIPAL, INTEREST, TAXES, AND INSURANCE — основная сумма, проценты, налоги и страхование компонент ежемесячных ипотечных выплат. Многие ипотечные кредиторы, чтобы быть уверенными в том, что налоги на имущество и взносы по страхованию имущества будут уплачены полностью и в срок, требуют… … Финансово-инвестиционный толковый словарь
PITI — Principal Interest Taxes And Insurance (Business » Accounting) * Principal Interest Tax And Insurance (Business » Accounting) * Principle Interest Taxes And Insurance (Business » General) … Abbreviations dictionary
PITI — principal, interest, taxes, and insurance основная сумма, процент, налоги и страхование … Финансово-инвестиционный толковый словарь
PITI — Principal, interest, taxes and insurance; the most common components of monthly mortgage payments … Black's law dictionary
PITI — In relation to a mortgage, PITI (pronounced like the word pity ) is an acronym for a mortgage payment that is the sum of monthly principal, interest, taxes, and insurance. That is, PITI is the sum of the monthly loan service (principal and… … Wikipedia
PITI payment — noun The amount paid per month in Principal, Interest, Taxes and Insurance for a given property. Used in determining the debt/income ratio. You cant afford this house. Your PITI payment would be too high for your income. See Also: insurance,… … Wiktionary
PITI — Stands for principal, interest, taxes, and insurance, the four main parts of monthly mortgage obligations. Bloomberg Financial Dictionary … Financial and business terms
PITI — Abbreviation for the major expenses that make up a mortgage payment: principal (the amount borrowed), interest, (property) taxes, and (homeowners ) insurance. Category: Real Estate & Rental Property → Buying a House Nolo’s Plain English Law… … Law dictionary
Workforce housing — is a relatively new term that is increasingly popular among planners, government administrators and housing activists, and is gaining cachet with home builders, developers and lenders. Workforce housing can refer to almost any housing, but always … Wikipedia
Front-End Ratio — A ratio that indicates what portion of an individual s income is used to make mortgage payments. It is calculated as an individual s monthly housing expenses divided by his or her monthly gross income and is expressed as a percentage. Monthly… … Investment dictionary
