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WHAT IS INCLUDED IN A MONTHLY MORTGAGE PAYMENT?

April 26, 2017included mortgage payment

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WHAT IS INCLUDED IN A MONTHLY MORTGAGE PAYMENT?

5 Answers

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The monthly mortgage payment mainly pays off principal and interest. Local real estate taxes, homeowner’s insurance and mortgage insurance (if applicable) are typically included as well.

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The monthly mortgage payment mainly pays off principal and interest. But most lenders also include local real estate taxes, homeowner’s insurance, and mortgage insurance (if applicable).

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The monthly mortgage payment mainly pays off principal and interest. But DLFCU includes local real estate taxes, homeowner’s insurance, and PMI (mortgage insurance) if applicable.

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Principal and interest are always included and often property taxes and homeowners insurance. Private mortgage insurance (PMI) is generally required if you make less than a 20% downpayment.

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The monthly mortgage payment mainly pays off principal and interest. But most lenders also include local real estate taxes, homeowner’s insurance, & mortgage insurance (if applicable).