Finance
A North Dakota buyer's PITI payment includes which of the following components?
APrincipal, interest, taxes, and insurance✓ Correct
BPrincipal, interest, title, and inspection
CPayment, insurance, taxes, and interest
DPrincipal, income, taxes, and indemnity
Explanation
PITI stands for Principal, Interest, Taxes (property taxes), and Insurance (homeowner's insurance). This is the total monthly housing payment. PMI may also be included for loans with less than 20% down.
Related North Dakota Finance Questions
- A North Dakota buyer uses a VA loan to purchase a home. Which fee unique to VA loans may be financed into the loan amount?
- North Dakota Housing Finance Agency (NDHFA) primarily helps:
- A North Dakota commercial mortgage 'balloon payment' is typically due:
- Private mortgage insurance (PMI) is typically required when:
- An adjustable-rate mortgage (ARM) typically starts with a lower interest rate because:
- A North Dakota borrower receives a 'Notice of Right to Cancel' (right of rescission). This right applies to:
- A North Dakota borrower who is 90 days or more behind on mortgage payments and receives a formal notice from the lender is in:
- In North Dakota, a 'hard money loan' for real estate is typically:
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →