What Does Principal, Interest, Taxes, and Insurance Mean?

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What does Principal, Interest, Taxes, and Insurance mean? Read on to discover the definition & meaning of the term Principal, Interest, Taxes, and Insurance - to help you better understand the language used in insurance policies.

Principal, Interest, Taxes, and Insurance

Principal, Interest, Taxes, and Insurance

Principal, interest, taxes, and insurance, also referred to as PITI, are the monthly costs associated with owning a home. In the context of insurance, homeowners' insurance, and sometimes mortgage insurance, are typically included in the PITI costs. Principal, interest, taxes, and insurance can amount to a significant sum of money per month. So it is important that homeowners can properly afford them before they buy the home.

We hope the you have a better understanding of the meaning of Principal, Interest, Taxes, and Insurance.

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