Mortgage Payment Has 5 Parts. Most Buyers Only Know Two.

Your Mortgage Payment Has 5 Parts. Most Buyers Only Know Two. Most buyers focus on the interest rate and assume that determines what they'll pay each month, but that is only part of the picture. Your mortgage payment has several components, and understanding them all helps you avoid surprises once you're under contract. In this video, you'll learn: ✔️ The five components of a mortgage payment ✔️ How amortization works and what it means for your loan balance over time ✔️ Why what you qualify for and what you can afford differ ✔️ How fixed and adjustable rate mortgages affect your payment ✔️ What closing costs cover and how much to expect ✔️ The difference between a lender and a mortgage broker ✔️ What APR is and why it matters more than the rate alone The decision to buy or sell a home shouldn’t be made lightly. Here at The Betz Team, we want to help make that decision easier by providing you with relevant, educational information about Dallas, Texas real estate and the Dallas, Texas real estate market! Whether you’re looking for helpful tips about buying a home, selling a home, or the latest market statistics, we are here to offer support. The Betz Team is dedicated to helping homebuyers and home sellers achieve their goals, and if you have any real estate-related questions, don’t hesitate to reach out! ► ► Schedule a Call With My Team → http://www.ScheduleWithTheBetzTeam.com ► ► Get Pre-Approved With My Team → https://www.ApplyWithTheBetzTeam.com ► ► Get An Real Estate Agent Referral → http://www.GetaRealEstateAgentReferra... ► ► Search for Real Estate in Private → http://www.StayOffZillow.com TOP RESOURCES 📄 Let Us Beat Your Loan Estimate → https://www.2ndlookprogram.com 📉 Today’s Rates → https://www.WhereAreRatesToday.com 🎓 Lower Student Loan Payments → https://www.CanIReduceMyStudentLoan.com 💳 Credit Score Simulator → http://www.MasterYourCreditScore.com Wade Betz NMLS # 280613 The Betz Team 4514 Cole Ave., Suite 600 Dallas, TX 75205 (469) 906-2522 [email protected] https://www.WinningWithWade.com #WadeBetz #WinningWithWade #RealEstate #mortgage 00:00 Introduction 00:16 How a Mortgage Works 00:57 What Your Monthly Payment is Made of 02:12 What You Qualify for vs What You Can Afford 03:02 Fixed vs Adjustable Rate 04:10 The Cost of a Mortgage 05:23 Mortgage Lender vs Mortgage Broker 06:25 What to Compare When Shopping 07:27 Before You Buy