Principal, Interest, Taxes, and Insurance

Definition

  • An acronym for principal, interest, taxes, and insurance which are components of a monthly mortgage payment.

Synonyms
principal interest taxes and insurance

Acronyms
PITI

Alternate Spellings
principal interest taxes and insurance

Related Terms and Acronyms

  • Gross Debt Service (GDS) Acronym, Very Important,
    • The total monthly mortgage (or rent) payments, property taxes, utilities and maintenance fees as a percentage of gross monthly income.
    Used by mortgage lender underwriters to determine one's ability to qualify for a mortgage loan.
  • Insurance (insur) Abbreviation,
    • An arrangement where one party provides financial protection to another party for specific damages or losses.
  • Interest (int, IN) Acronym & Abbreviation,
    • Money paid for the use of borrowed funds, usually expressed as an annual percentage.
    Bank account transaction code.
  • Loan Definition,
    • Letting another party use something of value temporarily.
  • Mortgage (mtg) Abbreviation, Important,
    • A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
  • Principal Definition,
    • The original balance of money lent on an outstanding loan and fees, excluding interest. Also the remaining balance of a loan, excluding interest.
  • Principal and Interest (PI, P&I) Acronym,
    • Acronym for the elements of a mortgage payment: principal and interest.
  • Principal, Interest and Taxes (PIT) Acronym, Important,
    • Principal, interest and taxes. The components of a monthly mortgage payment.
  • Property Tax Definition,
    • A levy by a city on real estate and personal property whose amount varies depending on the property's value.
  • Step-rate Mortgage Definition, Important,
    • A fixed-rate home loan on which payments are lower at the beginning, typically for two years, and which then rise.
  • Tax (TX) Acronym,
    • A levy paid by an individual or entity that is collected by a government.
    Bank account transaction code.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage