why is my mortgage payment so high

Why Is My Mortgage Payment So High | Lisabiondo – – How does paying down a mortgage work? answer:. In the beginning, you owe more interest, because your loan balance is still high. So most of your monthly payment goes to pay the interest, and a little bit goes to paying off the principal. Over time, as you pay down the principal, you owe less.

can i refinance my house best way to get prequalified for a mortgage Prequalify for Mortgage | Home Lending | Chase.com – Here’s how to choose a mortgage lender. Looking at the Annual Percentage Rate (APR) is the best way to compare lenders because it shows you the total cost of a loan. It tells you the interest rate your bank will charge for your loan, but also factors in any additional costs that you’ll need to pay to get that rate-like mortgage (or discount) points or lender origination fees.Can a House Be Refinanced While on the Market? – Budgeting Money – If you’ve put your house up for sale, you may want to refinance the property to reduce your monthly payments while you wait for a buyer. It’s common to want to refinance a for-sale house during real estate downturns, when a house can sit on the market for a long time.

What the government shutdown means for your mortgage – Support staff at the VA and at the Department of Housing and Urban Development who handle underwriting or entitlement questions “are unavailable, so FHA/VA borrowers. temporarily reduces or.

Why are my closing costs so high? Are any of these negotiable. – Buying points is where you pay the bank a set amount of money to lower the interest rate of your mortgage. You can read more here if you’re interested. From here it looks like NY state charges a 1% transfer tax. That’s a state tax, so it’s not something you can negotiate with your mortgage provider (unless I am misunderstanding something).

can i deduct interest on a home equity loan How Do I Know If My Home Equity Loan Is Tax Deductible? – If you are using the loan to do work on your home, you can still deduct the interest. Think of things like replacing the roof, adding solar panels or remodeling a kitchen or bathroom.

Mortgage question-why so high? | Yahoo Answers – There are mortgage calculator programs you can access on line. Mortgage payments are computed such that your mortgage including interest and principle will be paid off with little or no balloon payment over the amortization period.

8 Signs You're Paying Too Much for Your Mortgage – Wise Bread – Here's how to tell if your mortgage is too expensive.. Even if you are comfortably able to make your mortgage payments, it's wise to try and get.

The question boils down to: Which of these – the investment or the mortgage repayment – takes greater advantage of the money you received? Let’s assume you received a lump-sum payment of $50,000, and.

Mortgage Payments Explained: Principal, Escrow, and More – So, when buying a home, your first payment is due at the beginning of the first full month after closing. If you close on April 10, your first payment is not due until June. However, when you close on your mortgage loan, the lender will collect interest on all remaining days of the month you close. If you close on the 15th of a 30-day month.

How to lower your payment if you already have a mortgage. If you already have your mortgage, there are still plenty of things you can do to lower your current monthly mortgage payment. Refinance your mortgage. One of the best ways to lower your mortgage payment is by refinancing your mortgage.