Also found in: Acronyms.
The principal and interest on a loan. The borrower must pay the principal and interest according to the agreed-upon schedule. See also: PITI, Amortization.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Abbreviation for principal and interest, being the two components of all payments under an amortizing mortgage loan.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.