Finance
A Missouri buyer's PITI payment stands for:
APrincipal, Interest, Taxes, and Insurance✓ Correct
BPurchase, Inspection, Title, and Interest
CPrepaid, Interest, Transfer, and Insurance
DPrincipal, Index, Term, and Investment
Explanation
PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a typical monthly mortgage payment. Lenders use PITI to calculate the housing expense ratio for loan qualification.
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