Isn’t it a PITI?

It’s not just a new lid on MID that may impact demand for for-sale real estate. Fewer may also qualify for a mortgage.

By John McManus | Builder

Principal, interest, [property] tax, and insurance.

This set of four financial quantities together form the basis for how mortgage applicants qualify–or not–for a loan to buy a home, and their sum, for those who do qualify, becomes the amount of a monthly mortgage payment.

READ ON:

Share this!

Additional Articles

New home sales post solid gain in March

By NAHB Despite higher interest rates last month, new home sales rose in March due to limited inventory of existing homes. However, the pace of new home sales will be under pressure in April as mortgage rates moved above 7% this

Read More »
News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

November 2017
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930