Browsing Tag

interest

  • Buyers

    What is Prepaid Interest?

    When you are at the closing of a real estate transaction you may hear the term “prepaid interest.” Here is what it means… Prepaid interest charges are charges due at closing for…

  • Buyers

    What does “PITI” mean?

    When you apply for a mortgage you might come across the abbreviation “PITI.” Here’s what it means… PITI stands for Principal, Interest, Taxes and Insurance. Mortgage lenders want to be sure…