Housing expenses are commonly referred to as piti. what does piti stand for?a.principal, income, taxes, investmentb.payment, investment, terms, insurancec.payment, interest, terms, incomed.principal, interest, taxes, insurance please select the best answer from the choices providedabcd

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08-08-2022
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Housing expenses are commonly referred to as piti. what does piti stand for?a.principal, income, taxes, investmentb.payment, investment, terms, insurancec.payment, interest, terms, incomed.principal, interest, taxes, insurance please select the best answer from the choices providedabcd

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smecloudbird18 smecloudbird18 · Answer 1 · 2022-08-22T09:46:35+02:00

Correct option is d : principal, interest, taxes, insurance.

Housing expenses are commonly referred to as piti. piti stand for principal, interest, taxes, insurance.

Principal, interest, taxes, insurance or in other words PITI are the sum components of a mortgage payment. Specially, components of the mortgage payment consists of the principal amount, loan interest, property tax, as well as the homeowners insurance and private insurance premiums mortgage.

PITI is generally quoted on the monthly basis. It is then compared to a borrower's monthly gross income for computing the front-end and back-end ratios of any individual.

To know more about PITI here:

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