Finance
What does PITI stand for in mortgage calculations?
APrincipal, Interest, Taxes, Insurance✓ Correct
BPrincipal, Investment, Title, Insurance
CPayment, Interest, Title, Indemnity
DPrincipal, Index, Term, Interest
Explanation
PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a typical monthly mortgage payment. Lenders use PITI to calculate housing expense ratios for loan qualification.
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