Take PITI Into Account When Budgeting Your New Home

August 1, 2009

PITI, an acronym used by banks and lenders related to mortgage loans and repayment, actually is the abbreviated form of a combination of the factors that are involved in a mortgage loan. These are Principal, Interest, Taxes and Insurance. Needless to say, these are the four most important components of a mortgage loan and form the basis of giving out the loan.