If a mortgage includes an optional escrow account, the payment is actually divided into four parts abbreviated PITI, which is Principal, Interest, Transaction Fees, and Incidentals.

Name: If a mortgage includes an optional escrow account, the payment is actually divided into four parts abbreviated PITI, which is Principal, Interest, Transaction Fees, and Incidentals.
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Question

If a mortgage includes an optional escrow account, the payment is actually divided into four parts abbreviated PITI, which is Principal, Interest, Transaction Fees, and Incidentals.​

Quizplus · Accepted Answer

PITI stands for Principal, Interest, Taxes, and Insurance, not Transaction Fees and Incidentals.

If a Mortgage Includes an Optional Escrow Account, the Payment