PITI

{
  "id": "MLC-T-LAW-003759",
  "term": "PITI",
  "field": "Law",
  "definition": "An acronym for the four components of a mortgage payment: principal, interest, taxes, and insurance. Principal is the portion of the payment that reduces the outstanding loan balance, while interest is the charge for borrowing the money. The taxes and insurance components are collected by the lender and held in an escrow account to pay property taxes and homeowners insurance premiums on the borrower's behalf.",
  "url": "https://mlchart.com/terminology/law/piti/"
}