11 Replies to “Mortgage Payment: The 3 Parts Explained

  1. They don't just take the interest for the year. It's your principal times your interest divided by 12 and that's your interest for the month. Still good video

  2. It's great video
    But the problem is if escrow account increases every 6 months by 100$ by year 10 you'll be paying 2700$ per month instead of 900$

  3. Good video but from your example for $150,000 house at 4% interest where did you get the $900 from? How do you know the total monthly starts at $900? Can you increase the principal from the start and go over the $900 monthly payment if you wish to do so?

  4. I'm experiencing a major increase in my escrow currently. It increased my total mortgage payment by 50%. I bought 2 years ago and yes the area I am in is up and coming, so the city taxes have gone up, but shouldn't they have adjust this within the first year? The city said some of what i am paying now in this increase is to pay back what I should have been paying last year. Is this normal? Do I have any right to argue this? Please help!

  5. Great video! Quick question! I just received an email with the property tax for the year. Do I need to pay that or my scrow payments should take care of that? This video got me thinking. Thank you for any reply!

  6. If I take a 30 year loan and pay off the principal in 20 years, will I save money on interest payments? Will the total amount I pay over the lifetime of loan be any less?

  7. I'm paying an extra $100 towards principal each month. I hope that helps me pay it off faster. I couldn't stand watching my loan trickled down each month and not really get any smaller

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