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.

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November 2017
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