What Factors Affect Mortgage Payments?

 

Looking to buy property in the Fort Myers or Cape Coral areas? Curious about what factors can impact your mortgage payments on that property?

Well, as this story shows, the amount of the down payment, the size of the mortgage loan, the interest rate, the length of the repayment term and payment schedule will all affect the size of your mortgage payment.

Below is a breakdown in bullets:

  • down payment
  • loan size
  • interest rate – fixed or adjustable
  • repayment term – how long
  • payment schedule – how often

all affect the size of your payment.

At Title Junction we believe an informed client is a happy client. Want more explanation on mortgage payments? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post to see if the TRID rules apply to your real estate transaction.

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