Mortgage Shock Value
The difference between your current monthly payment and the new payment Shock Value is the difference between what you are currently paying for rent or housing and the new principal, interests, taxes, and insurance (PITI) payment. For example, if you are currently paying $1.000 a month for housing and your new payment is $1,400, your shock value is $400. Would you be able to handle the difference? The goal is to assure the lender that […]