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Updated 11/17/2018 12:00:00 EST
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Getting Started With Mortgage Payments
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Getting Started With Mortgages

Understanding Mortgage Payments

The main factors determining your monthly mortgage payments are the size (the amount borrowed) and term (length of time) of the loan. There is a relationship between the two that determine the size of your monthly payment: longer terms result in smaller monthly payments and for this reason, 30-year fixed rate mortgages are the most popular type of mortgage.

What makes up a mortgage payment?

There are four factors that are involved in the calculation of a mortgage payment. They are principal, interest, taxes and insurance. When reviewing these, we’ll use the example of a $100,000.00 mortgage… click here to read more »

There are really no words to adequately express how grateful I am. There were many hurdles to overcome, but you persisted and made my refinance possible. Annette Grunow

First Option Blog

Does Home Flipping Pay Off?

August 20, 2018

Many homeowners and homebuyers entertain the idea of purchasing an investment property. Buying a home and renovating it so you can quickly sell it seems like an easy way to make extra money. The multitude of HGTV reality shows on house flipping and remodeling make the concept even more alluring. But does home flipping really […]

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