Infographic – Mortgage Payment Breakdown
Understanding what a mortgage payment is and how it works is extremely important, given the fact that there are several factors that will help determine what your mortgage payment will be.
- Downpayment
- Loan program
- Credit
Something else to also consider is the type of loan term. Understanding the pros and cons of each loan term can help you make a better decision, and by not carefully doing so you may end up with a higher monthly mortgage payment, so it is best to discuss this with your lender.
