Mortgage Payments

What Makes Up a Mortgage Payment

A monthly mortgage payment is usually made up of more than just principal and interest. Depending on your loan and property, it can include:

• Principal & Interest — repayment of the loan amount plus interest.
• Property Tax — taxes on the property, often collected monthly with the payment.
• Homeowners Insurance — coverage for the home, often collected monthly with the payment.
• Mortgage Insurance — may apply depending on the loan type and down payment.
• HOA Dues — if the property is in a homeowners association, dues are usually paid separately.

Use the Mortgage Calculator to estimate your total monthly payment, or get pre-qualified to find out what your payment could look like. Questions? Call Maryam at (949) 431-6565.