principal interest taxes and insurance
21PITI — In relation to a mortgage, PITI (pronounced like the word pity ) is an acronym for a mortgage payment that is the sum of monthly principal, interest, taxes, and insurance. That is, PITI is the sum of the monthly loan service (principal and… …
22ALIYAH AND ABSORPTION — GENERAL SURVEY Introduction Aliyah, ascension or going up, is the coming of Jews as individuals or in groups, from exile or diaspora to live in the Land of Israel. Those who go up for this purpose are known as olim – a term used in the Bible for… …
23Direct Taxes Code — The Direct Taxes Code (DTC) is said to replace the existing Indian Income Tax Act, 1961.[1] If approved, the DTC shall come into force on the April 1, 2012, and shall be applicable for income earned during the financial year 2012 13.[2] Although… …
24Workforce housing — is a relatively new term that is increasingly popular among planners, government administrators and housing activists, and is gaining cachet with home builders, developers and lenders. Workforce housing can refer to almost any housing, but always …
25PITI payment — noun The amount paid per month in Principal, Interest, Taxes and Insurance for a given property. Used in determining the debt/income ratio. You cant afford this house. Your PITI payment would be too high for your income. See Also: insurance,… …
26Front-End Ratio — A ratio that indicates what portion of an individual s income is used to make mortgage payments. It is calculated as an individual s monthly housing expenses divided by his or her monthly gross income and is expressed as a percentage. Monthly… …
27PITI — Stands for principal, interest, taxes, and insurance, the four main parts of monthly mortgage obligations. Bloomberg Financial Dictionary …
28Escrow payment — is the common term referring to the portion of a mortgage payment that is designated to pay for real property taxes and hazard insurance. It is an amount over and above the principal and interest portion of a mortgage payment. Since the escrow… …
29Lenders mortgage insurance — (LMI), also known as Private mortgage insurance (PMI) in the US, is insurance payable to a lender or trustee for a pool of securities that may be required when taking out a mortgage loan. It is insurance to offset losses in the case where a… …
30Monoline insurance — Monoline insurers (also referred to as monoline insurance companies or simply monolines ) guarantee the timely repayment of bond principal and interest when an issuer defaults. They are so named because they provide services to only one industry …
