Can a member exceed their desired PITI if their savings exceed closing costs and PSS?

In the context of this question, the focus is on whether a member can exceed their desired PITI (Principal, Interest, Taxes, and Insurance) based on their savings in relation to closing costs and PSS (Prepaid Savings Strategy). The correct response underscores the flexibility afforded to members when their savings exceed the necessary closing costs.

When a member has savings that surpass the amount needed for closing costs, it suggests they have additional financial resources available. This surplus can provide a cushion, allowing them to potentially exceed their initially planned PITI. The essence here is that the member's financial stability, reflected in their savings, can enable them to manage a higher monthly payment without putting undue strain on their finances.

This choice recognizes that having adequate savings can give a member the leeway to adjust their PITI to align more closely with their homeownership goals, as long as they are financially prepared to handle the increased obligation. It reflects a practical consideration of individual financial situations, enabling members to make informed decisions about their housing expenditures.