Rate State Releases Article Explaining Mortgage Jargon

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For anyone to read, Rate State has released it's latest article defining mortgage PITI.

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They are happy to provide these and their lending comparison tool freely and without obligation.

Without an understanding of the key terms related to mortgage refinance, many people let opportunities pass them by, says Rate State in their latest article. They explain that to have control over one's financial future, the understanding of terms such as PITI is essential.

In the article, they start at the beginning; P stands for principal. They explain, saying, “The P in PITI is the amount of principal towards the actual house in your mortgage payment. With a lot of mortgages, you will find that a lot of your initial payments consist of interest while the later payments contain a lot more principal. When you purchase a new mortgage or obtain a mortgage refinance for a low cost house, the principal is where you will save the majority of your money.”

They go on to explain the rest of PITI, spending enough time on each initial to fully cover its meaning. Rate State also has other articles on their website, as well as this one, for complementary viewing. They are happy to provide these and their lending comparison tool freely and without obligation. They also offer a free budgeting tool on their website, for those who wish to master their finances.

http://www.ratestate.com/about/

Rate State helps consumers compare today’s mortgage rates through their online comparison tool to ensure they are getting the best rate for their home mortgage or refinance before making their next purchase. They provide consumers with access to the information they need in order to make a decision potentially saving thousands of dollars over the term of their next home loan.

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John Danton
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