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Tag Archive | "mortgage amortization"

Amortization Periods: Short or Long Term Mortgage?

Amortization periods have a profound effect on your mortgage repayment figures. Here we discuss the difference between a short and long term mortgage. Once the down payment has been deducted from the price of your new home, the balance is amortized over a period years. Each monthly repayment includes the decreasing principal owed after the […]

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PITI: Principal, Interest, Taxes, and Insurance.

Sounding just like ‘pity,’ PITI stands for Principal, Interest, Taxes and Insurance. The term is used in relation to mortgage payments. It is the total monthly sum paid for a mortgage in the USA. Here is a description of the initials in the acronym in more detail. PITI: Principal The principal is the capital sum […]

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