Well, as this story shows, the amount of the down payment the size of the mortgage loan, the interest rate the length of the repayment term and payment schedule will all affect the size of your mortgage payment.
In bullets:

  • down payment
  • loan size
  • interest rate – fixed or adjustable
  • repayment term – how long
  • payment schedule – how often

all affect the size of your payment.

TitleTap

TitleTap

TitleTap provides turn-key websites and marketing tools like Video, Social Media Management, and Email Marketing for Title Agents and Real Estate Attorneys. Get more great marketing tips like this specifically relevant to Real Estate, Title Insurance, Mortgage Lending, and Law by subscribing or visiting our blog above.
TitleTap

Related Post

What Types Of Mortgage Loans Are Available? http://fwd4.wistia.com/medias/ptb0kece3x?embedType=iframe&videoFoam=true&videoWidth=640 This video tells you about the most common types: Fixed Rate, ARM, Balloon and 2-Step. First, Fixed Rate Mortgages: Payments remain the same for the life of the loan generally 15 years or 30 years. In...
What Is A Mortgage? http://fwd4.wistia.com/medias/bwdl7k6d08?embedType=iframe&videoFoam=true&videoWidth=640 The original phrase “mort gage” translates as “death pledge”! But as this video explains, a mortgage is a loan obtained to purchase real estate. The "mortgage" itself is a lien - a legal claim on the ho...
What Does Ability To Repay Mean? http://fwd4.wistia.com/medias/7afzdrodwg?embedType=iframe&videoFoam=true&videoWidth=640 What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over...
Don't Go At It Alone. Download The Free PDF!"10 Uncommon Questions to Ask Before Hiring a Web Designer"

All websites are not created equal! Download a free PDF with all of the questions you need answered BEFORE hiring a web designer.

Download Now