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Choose a Letter to view the terms starting with that letter.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
PITI
Principal, interest, taxes and insurance, which combined make a monthly mortgage payment.
Points
A one-time payment to lower the interest rate on a mortgage.
Prepaid Interest
The interest charged at closing calculated to pay for the cost of borrowing for the remainder of the month.
Prepayment Penalty
Fee paid by the borrower if loan is paid before its due date.
Pre-qualification
A non-binding opinion of how much a borrower will be qualified to borrow.
Private Mortgage Insurance (PMI)
Insurance required by lender from a non-governmental insurer if down payment is less than around 20%.
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