What Is A Mortgage Payment

Dated: 03/23/2016

Views: 1334

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What Is a Mortgage Payment? Kingman Real Estate



When purchasing a home in Kingman, unless you are like the lucky few who purchase a home in Kingman with cash, chances are that you will have a mortgage payment. 


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!  



Get pre-qualified in 15 minutes! Give me a call and find out how!




Kristina Trahan

928-293-5187

Kristina.QueenTeamHomes.com

Kristina@QueenTeamHomes.com

The Queen Team- Keller Williams Arizona Living Realty



What's in a Mortgage Payment Chart: http://goo.gl/uB6ngh

"Mortgage" Definition: https://goo.gl/v5ZQny

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