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What Is A Mortgage Payment
What Is a Mortgage Payment? Kingman Real Estate
A mortgage payment is "the charging of real (or personal) property by a debtor to a creditor as security for a debt (especially one incurred by the purchase of the property), on the condition that it shall be returned on payment of the debt within a certain period."
In old English times, this Latin word literally meant "death pledge."
For first time home buyers (and even some current home owners), the question arises... what makes up a mortgage payment?
The chart below does a great job at the breakdown of what goes into a mortgage payment. It is important to keep in mind that this is merely just a general break down. Different factors such as purchase price, down payment, interest, taxes can change the monthly payment.
Are you curious to see what your monthly payment would be for your dream home in Kingman? Give me a call!
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What's in a Mortgage Payment Chart: http://goo.gl/uB6ngh
"Mortgage" Definition: https://goo.gl/v5ZQny