What is PITI?
What is PITI?
PITI is the four parts of your monthly mortgage payment. PITI is Principal, Interest, Taxes, and Insurance. The principle and interest go to
cover the monthly obligations, while insurance and taxes are collected in an escrow account and paid when they are due by the financial institution.
Research Maniacs thinks that you should negotiate not to have an escrow account for taxes and insurance. The escrow account does not give you any
interest income, so we think you should keep this money in your own savings account until insurance and taxes are due.
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