Posted on: 14th Sep, 2009 03:37 am
WHAT FACTORS AFFECT MORTGAGE PAYMENTS?
Hi Archie,
There are several factors that affect mortgage payments. It depends on the interest rate you're paying on the loan. The higher the interest rate on the loan, the higher the amount of monthly mortgage payments. If the borrower pays a good amount of down payment and a few discount points, he can get a lower interest rate on the mortgage and hence, his monthly payments will also be lower.
There are several factors that affect mortgage payments. It depends on the interest rate you're paying on the loan. The higher the interest rate on the loan, the higher the amount of monthly mortgage payments. If the borrower pays a good amount of down payment and a few discount points, he can get a lower interest rate on the mortgage and hence, his monthly payments will also be lower.
Many Factors plays importanat role in mortgage payment.
Following are major factors which affects mortgage payment
1)The amount of the down payment.
2)The size of the mortgage loan.
3)The interest rate.
4)The length of the repayment term.
5)Payment schedule.
Following are major factors which affects mortgage payment
1)The amount of the down payment.
2)The size of the mortgage loan.
3)The interest rate.
4)The length of the repayment term.
5)Payment schedule.