What is the streamlined online approval process?
Our streamlined, centralized, and high-tech business method completes most of the work for your approval by the time you get your online approval. The bottom line is that you simply wont have to wait long and you wont be waiting in suspense. Youll already be conditionally approved. Return to top. • What is PITI? Principal, Interest, Taxes, and Insurance – PITI PITI is the acronym referring to the above-referenced components of your monthly mortgage payments. That is, each month your payment to your lender will consist of: • Funds to be applied to the Principal – to repay the actual money you borrowed. • Funds to be applied to the Interest – to repay the interest youre being charged on the loan, over the life of the loan. • Funds being collected in an Impound/Escrow Account to pay your property taxes when they come due. • Funds being collected in an Impound/Escrow Account to pay your hazard/fire Insurance when it comes due. Return to top. • What is PMI? Private Mortgage Insurance (PMI)
