What should your mortgage payment be?

Answer On One Hand: 25 Percent of Your Budget.Many mortgage loan officers and lenders suggest that borrowers never borrow more than 25 percent of their monthly pre-tax income to purchase a residence. Havi... Read More »

Top Q&A For: What should your mortgage payment be

When is your first mortgage payment due?

The first mortgage payment is due the second month after the date of closing. For example, closing on the 16th of September would make the first payment due on November 1st.Source:"The Unofficial G... Read More »

When is the first payment due on an FHA mortgage?

The first payment due on a Federal Housing Administration (FHA) mortgage is due the first full month after the closing date. Payment on interest for mortgages is paid in arrears, after it is earned... Read More »

When will I have to pay my first mortgage payment?

When paying closing costs, you are usually required to pay the remaining interest for the month of closing. Your mortgage payment will then normally cover the previous month and therefore won't be ... Read More »

Is it possible to get a mortgage without a down payment?

It is possible to get a mortgage without a down payment. One-hundred percent mortgages allow consumers to purchase a home without any money down. These loan come with a significantly higher private... Read More »