Finance
A West Virginia homebuyer is told their monthly PITI payment is $1,450. This stands for:
APrice, Interest, Taxes, Insurance
BPrincipal, Interest, Taxes, Insurance✓ Correct
CPayment, Income, Title, Inspection
DProperty, Income, Transfer, Insurance
Explanation
PITI stands for Principal, Interest, Taxes (property taxes), and Insurance (homeowner's insurance and PMI if applicable). PITI represents the total monthly housing payment including both the mortgage payment and the escrowed tax and insurance amounts.
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