P

Abbreviation for Principal, Interest, Taxes, and Insurance. This indicates what is included in a monthly payment on real property to a company servicing a mortgage loan. Principal, interest, taxes and insurance are the four major portions of a usual monthly payment. If you have an impounded loan, then your monthly payment to the lender includes all of these and probably includes mortgage insurance as well. If you do not have an impounded account, then the lender still calculates this amount and uses it as part of determining your debt-to-income ratio.