What Makes Up a Mortgage?
I’m sure that everyone has heard of a mortgage. But how many people really know what a mortgage really is and what consists of? Well, here is some information that will be very helpful for those thinking about buying a home. A mortgage is made up of 4 parts: Principal, Interest, Taxes, and Insurance (or PITI for short). Let’s look at each of these factors. First, there is the principal. The principal is the actual […]