1.800.295.6186

Call today for a free consultation!

Common Mortgage Questions:

How Do I know how much
          house I can afford?

How do I know know which
          type of mortgage is best
          for me?


What is your best interest
           rate?

Once I am approved, how
          long will it take to close my
          loan?

Do you work with only
          one lender?

What does my mortgage
          payment include?

How much cash will I need
          to purchase a home?

How can I reduce my debt
          with a mortgage?

How are index and margin
          used in an ARM?

What is the difference
          between a fixed-rate loan
          and an adjustable-rate
          loan?

Mortgage Answers:

  "What does my mortgage payment include?"

 

For most homeowners, the monthly mortgage payments include three separate parts:

• Principal:
       
      Repayment on the amount borrowed
  
   

• Interest:
       
      Payment to the lender for the amount borrowed
  
   

• Taxes & Insurance:
      
      Monthly payments are normally made into a special escrow
      account for items like hazard insurance and property taxes.
      This feature is sometimes optional, in which case the fees
      will be paid by you directly to the County Tax Assessor and
      property insurance company.

We are always here to answer your questions and to help you through this process. info@ifmghomeloans.com