When you want to buy a home, you may not know all the details involved, including how much of a down payment you need. When it comes to mastering a task, such as learning to ride a bike or learning about investments, someone may have taught you. It's the same with buying a house, so let Morty guide you. So, how much down payment for a house? We'll … [Read more...] about How Much Down Payment to Buy a House?
monthly mortgage payment
What percentage of income should go to mortgage payments? It's a good question, particularly when you're ready to buy a home for the first time. Just like other important financial decisions, you want your monthly mortgage payment to fit seamlessly into your lifestyle. Morty can help you determine what you can comfortably afford to spend on your mortgage … [Read more...] about How Much of Your Income Should You Spend on Your Mortgage?
When shopping for your mortgage or refinancing your mortgage, one of your top-of-mind questions probably sounds a lot like: "What will my monthly mortgage payment be, and how will it fit into my budget?" Your loan amount, principal, interest, term and more play into your monthly payment amount. You will want to feel comfortable making your loan payments on a monthly … [Read more...] about How to Calculate Your Mortgage Payment
Getting a mortgage may seem like a complex task with many layers and steps involved. However, the first step to breaking down the process involves answering the most basic question: "What is a mortgage?" Understanding the very basics of mortgages may help you gain more confidence as you search for your dream home. We'll walk you through various mortgage options and take you … [Read more...] about What is a Mortgage? A Guide for Beginners in 2022
When you first go through the home buying process, you may have lots of questions about down payments, closing your mortgage and interest rates. You may wonder about the key steps to get a mortgage. You will need to learn about a concept called escrow as well. Many buyers and sellers don't spend too much time thinking about escrow. If you do, you may think of it simply … [Read more...] about What is Escrow and Why Do You Need It?