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| Real Estate Terms -> What is PITI |
PITI
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What is PITI? |
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The monthly home payment will usually include more than just the loan payment. The PITI payment represents the entire monthly payment including: Principle & Interest, Property Taxes, Mortgage Insurance and Hazard Insurance. When shopping for a loan many advertisers will simply quote the loan payment (Principle & Interest) and not the total monthly payments. Be careful, as this may mislead you into believing that a particular home is more affordable. Taxes and Insurance can be several hundreds of dollars added to your monthly payment. In addition, there may be Home Owner’s Dues required. |
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Disclaimer:
Do not rely on these definitions for any purpose other than providing an understanding of the concepts in our web site. More... |
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