Piti - Law Dictionary Search Results

Home Dictionary Name: piti

piti reserves

piti reserves a cash amount that a borrower must have on hand after making a down payment and paying all closing costs for the purchase of a home. The principal, interest, taxes, and insurance (PITI) reserves must equal the amount that the borrower would have to pay for PITI for a predefined number of months. Source: U.S. Department of Housing and Urban Development ...

Pitying

Expressing pity as a pitying eye glance or word...

piti

piti Principal, Interest, Taxes, and Insurance Source: U.S. Department of Housing and Urban Development ...

principal, interest, taxes, and insurance (piti)

principal, interest, taxes, and insurance (piti) the four elements of a monthly mortgage payment; payments of principal and interest go directly towards repaying the loan while the portion that covers taxes and insurance (homeowner's and mortgage, if applicable) goes into an escrow account to cover the fees when they are due. Source: U.S. Department of Housing and Urban Development ...