Tag Archive for: PITI

What Does “PITI” Mean for California Borrowers

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

Many lenders and Realtors tout the tax benefits from buying a home b/c buyers can deduct their interest and property taxes from their income after they buy. For buyers in […]Read More

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

“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

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