Understanding monthly mortgage payments is absolutely essential in order for Homebuyers (and Homeowners) to make informed decisions about their real estate financing endeavors.
As part of the Mortgage Deep Dive video series, below is a video designed to help Homebuyers and Homeowners understand the nuances of a mortgage payment. What portion of the payment is impacted by the interest rate and/or the loan amount and/or the amortization term? Why don't Mortgage Lenders know the exact payment up front? What if the home is in a flood and/or fire zone? What if a home has Mello Roos assessments?
If you are a Real Estate Agent assisting Homebuyers, please feel free to forward this video, along with the Mortgage Deep Dive link to help your Clients. We all win when the Consumer makes informed decisions, which is only possible when we all understand monthly mortgage payments.
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