Finance
What does 'PITI' stand for in a South Dakota mortgage payment?
APrice, Interest, Title, Insurance
BPrincipal, Interest, Taxes, Insurance✓ Correct
CPurchase, Income, Transfer, Investment
DProperty, Index, Term, Installment
Explanation
PITI = Principal + Interest + (Property) Taxes + (Homeowners) Insurance. This is the total monthly mortgage payment that lenders use to qualify borrowers.
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