<Table> <Tr> <Td> </Td> <Td> This article does not cite any sources . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (December 2009) (Learn how and when to remove this template message) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article does not cite any sources . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (December 2009) (Learn how and when to remove this template message) </Td> </Tr> <P> In relation to a mortgage, PITI (pronounced like the word "pity") is an acronym for a mortgage payment that is the sum of monthly principal, interest, taxes, and insurance . That is, PITI is the sum of the monthly loan service (principal and interest) plus the monthly property tax payment, homeowners insurance premium, and, when applicable, mortgage insurance premium and homeowners association fee . For mortgagers whose property tax payments and homeowners insurance premiums are escrowed as part of their monthly housing payment, PITI therefore is the monthly "bottom line" of what they call their "mortgage payment" (although more precisely it is a combined payment of mortgage, tax, and insurance). </P> <P> Lending institutions often use a multiple of the PITI payment amount as the minimum amount of seasoned assets a borrower must document ("state") as a reserve when qualifying for a mortgage . The reserve shows that the borrower could continue to pay his / her monthly payment for several months even if his / her income was temporarily interrupted . This reduces the risk of default, making the borrower a safer bet for the lender . </P>

What does piti stand for in real estate
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