Tag Archive for: PITI

What Does PITI Mean? A Mortgage Payment Guide

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Lots of borrowers are unsure what “PITI” means when it comes to their home loan. PITI is a common term used within the mortgage industry to describe the four factors that impact a loan. PITI (pronounced “pity”) stands for:Read More

Realizing Tax Benefits From Buying Now By Increasing Exemptions

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Buying a home offers valuable tax benefits that can help offset higher housing costs. By adjusting your IRS W-4, you can access these savings right away and boost your monthly take-home pay.Read More

“Reserves;” What Are They? When Are They Necessary?

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“Reserves” include the liquid funds available to a borrower after a transaction closes. In other words, reserves are funds left over after all down payment and closing cost funds are […]Read More

Not Counting Departing Residence PITI Once It Is Pending

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We discussed how to buy a new home before selling an existing home last week (bridge loans, equity lines, FHA financing, renting out home) and we forgot to add one […]Read More