Is PITI code?

PITI is an abbreviation for Principle Interest Taxes Insurance these are the components that make up your monthly payment. When you apply and qualify for a loan to purchase your Pueblo or Canon City home, your mortgage company will collect not only what you owe them your principal and interest but your taxes and insurance as well. These are paid for you by the mortgage company to ensure that these are kept current so they taxes do not become delinquent. This insures that mortgage company is not left in the dark about past due taxes, past due taxes can cause a foreclosure that the lender has no control over.  The mortgage company may also collect things like fees to your Home Owners Association if you have one.
This does not mean you can’t protest your property taxes or change your insurance policy or even insurance company. But your mortgage lender needs to stay in the loop.
So when you hear somebody spelling PITI you now know what they are talking about!

About Dena Stevens (719) 369.9087

Putting the 'real' into REALTOR since 2004 Ask about vacant land, ranch land or residential properties. Loyalty and devotion are things buyers and sellers expect from their Realtor as well as the fiduciary responsibility of due diligence. Dena is a certified Ecobroker, focused on sustainability, energy efficiency and the environment and is a Certified Sales Professional from the Association of Home Builders. Specialties: A client once said "you put the 'real' into REALTOR" to me. I took it as a complement and I've been using it ever since, I'm a no nonsense kind of person. I've been helping people buy and sell real estate since 2004. Associate Broker REALTOR Certified Sales Professional (CSP) Short Sale Foreclosure Resource (SFR) Ecobroker GHSP The Fair Housing Act is a federal act in the United States intended to protect the buyer or renter of a dwelling from seller or landlord discrimination. Its primary prohibition makes it unlawful to refuse to sell, rent to, or negotiate with any person because of that person's inclusion in a protected class.
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