Mortgage Math
Do You Really Need 20% Down to Buy a Home?
One of the mortgage myths that refuses to go away is that you need 20% down to buy a home. I still talk with buyers who have been saving for years because they believe they cannot purchase until they reach that number. Meanwhile, they may already have enough money to buy a home. Twenty percent…
Read MoreWhat Costs Are Actually in Your Monthly Mortgage Payment? Let’s Break Down the Total
At Liberty Star Mortgage, we’re often asked: “What exactly is included in my monthly mortgage payment?” Understanding the components of your mortgage can help you plan and budget with confidence, especially if you’re a first-time homebuyer. Here’s a breakdown of the four main costs that typically make up a monthly mortgage payment: 1. Principal &…
Read MoreHow Does Your Tax Rate Impact Your Monthly Mortgage Payment? | Mortgage Math with Collette
Welcome to Mortgage Math, with Mortgage Expert, Collette Horton! Let’s break down how your tax rate significantly impacts your monthly mortgage payment. Sometimes it can mean the difference of HUNDREDS of dollars per month! When you’re planning to buy a home, one of the most crucial factors to consider is how your tax…
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