«

»

Apr 02

What Would My Mortgage Payment Be

So you are trying to figure out what your mortgage payment might behow much is my mortgage payment

I can tell you that there is many different factors that go into calculating a mortgage payment. You can certainly go into any mortgage calculator that you might find online and you can get a basic mortgage payment by figuring it out that way, but there are, like I said, a few other factors that you need to calculate in that you probably won’t have all the information to do that, such as what is the amortization that you are allowed to use, a 25 year, 30 year, 35 year.

You might want to watch a short video on this

Believe it or not, I still have some lenders that will allow us to do a 35 year amortization, but it’s specific to every file whether or not we can use those or not. The other thing that you might run into is mortgage insurance that would be default insurance specifically and what those premiums might be and they are difficult to get the information as to what they calculate and how they calculate it. Of course we have programs that make it very easy, but certainly it’s a little bit difficult if you are using the mortgage calculators online to get where the exact payment might end up.

If your curios and would like to know what exactly a mortgage payment might look like for your circumstances feel free to contact us at any time and we can certainly work that out for you.

 

Leave a Reply

Your email address will not be published. Required fields are marked *