Finance
A borrower's monthly PITI payment includes:
APrincipal and interest only
BPrincipal, Interest, Taxes, and Insurance✓ Correct
CPrincipal, Interest, Taxes, and Title insurance
DPrincipal and insurance only
Explanation
PITI stands for Principal (loan repayment), Interest (cost of borrowing), Taxes (property taxes escrowed monthly), and Insurance (homeowner's insurance escrowed monthly). This is the total monthly housing payment used in debt-to-income ratio calculations.
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