Monday, April 28th, 2008
Understanding the basics behind your mortgage payment
If you’re shopping for a mortgage loan, you may want to start by learning the basic components behind your mortgage payment. Understanding what goes into your mortgage payment, can help you make a smart decision about the mortgage loan that’s right for you.
What’s in a mortgage payment?
Your mortgage payment consists of more than just principal and interest. In fact, there are several different components that factor into your mortgage payment. Mortgage payments are made up of four different parts – principal, interest, taxes and insurance (collectively known as “PITI”). (more…)









