The Homebuying Process
Mortgage Payment Breakdown
Your monthly mortgage payment typically is made up of four components: principal, interest, taxes, and insurance, together known as PITI.
principal
Part of the monthly payment that reduces the remaining balance of the mortgage.
Interest
The fee charged for borrowing money.
taxes
The amount of annual tax that you pay on your home is based on the market value of your property.
insurance
Homeowners’ insurance protects your home in the event of damage or loss.
Use our Mortgage Payment Calculator to estimate your monthly payments.
Mortgage Payment Calculator
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PMI (Conventional Loans) – Private mortgage insurance | MIP (FHA Loans) – Mortgage insurance premium | Guarantee Fee (VA Loans)
"Working with you has been a pleasure. You’ve provided me with great service, and I will definitely send you referrals in the future."
Tyesha B.
"I would like to show my gratitude for you taking the extra effort to help support and assist me in successfully securing my mortgage. I worried about foreclosure for a year until you all assisted me. Thank you!"
Cecile D.
"No matter how many times I asked a question or how many questions I asked, my loan officer did not get tired of me or made me feel inadequate because of all the questions I asked. The homebuying experience was smooth, and I recommend All Financial Services to anyone going through the homebuying experience."
Kim Neal
"I was referred to All Financial Services by someone who sung your praises. I was not sure how my experience would go but I too am singing your praises. I appreciated all the information you imparted to me. You answered all my questions, albeit quite a lot, and at no point did I feel like I was a bother. Thank You, Thank You, Thank You. Now I am in a home of my own."
Grace D.
Homebuying Resources
What’s included in your monthly mortgage payments? Do you know?
An easy way to manage property taxes and insurance premiums for your home – true or false?
What other types of properties can you buy, a duplex, manufactured home, condominium, or build one?
Coming Soon
Coming Soon
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WHAT'S IN A MORTGAGE PAYMENT
WHAT’S AN ESCROW?
TYPES OF HOMES TO BE PURCHASED
First-Time Homebuying Guide
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Having a guide to help you through the homebuying process will ensure that you know where you are in the process and allows you to know what to expect.
