PITI10 of 11Best understood as the bottom line on a monthly mortgage loan, PITI represents the sum total of principal, interest, taxes, and insurance costs. It's the monthly house payment. Lenders divide PITI by the borrower's pretax monthly income to calculate DTI -- the debt-to-income ratio. Related Articles:Rule would refund feesReturn of the ARMKnow your mortgage capsNew form for closing costsRelated Links:Key mortgage paperworkMortgage essentialsLow score, high payment?Ratios rule mortgages advertisement
Best understood as the bottom line on a monthly mortgage loan, PITI represents the sum total of principal, interest, taxes, and insurance costs. It's the monthly house payment. Lenders divide PITI by the borrower's pretax monthly income to calculate DTI -- the debt-to-income ratio.
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