Shawn

PITI What is it good for?

Absolutely nothin. Sounds like a 70's song to me! Actually every potential home buyer needs to know exactly what the term "PITI" is. P This is the Principle of your mortgage. The lender calculates the payment based on the principle balance of the loan. This amount is small at the beginning of the loan term and grows larger as the balance is paid down and the interest owed becomes less. (more...)Continue Reading!