PITI
Definition
PITI stands for ‘principal, interest, taxes, and insurance’. PITI is also referred to as monthly housing expense. PITI makes up the four basic elements of your monthly mortgage payment. The (P) principle is the money that goes towards paying down your debt The (I) interest is the interest you are paying on the money you borrow (TI) Taxes and Insurance is collected and put into an escrow account. This money goes towards paying for our taxes and insurance when they due.
Related Terms Other terms related to 'PITI' starting with the letter 'P' PMI, Portfolio lender, Partial prepayment, Payment rate, Principal limit Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 