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FINDLAW LEGAL DICTIONARY

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Piti Reserves

piti reserves

a cash amount that a borrower must have on hand after making a down payment and paying all closing costs for the purchase of a home. The principal, interest, taxes, and insurance (PITI) reserves must equal the amount that the borrower would have to pay for PITI for a predefined number of months.



Source: U.S. Department of Housing and Urban Development