Tag Archive for: mortgage payments

Average Texas Monthly Mortgage Payment In 2022

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Calculating the average mortgage payment for Texas homebuyers can easily be done using a mortgage calculator to calculate the difference between Texas' average home value and the mortgage rates recorded by Freddie Mac.Read More

Refi Boom Over? Record Appreciation; Affordability Crisis? Not Here

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PANICKED LISTING AGENT; PURCHASES HARDER THAN REFI’S I got this text last week from a panicked listing agent: “Jay, my listing is supposed to close Friday and the lender went […]Read More

Do Borrowers Get to “Skip” a Payment When They Refinance?

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NO COST DOES NOT MEAN NO “CASH TO CLOSE” Almost all of our refinances are “no cost” loans, meaning that we, as a lender, cover all of the “non-recurring closing […]Read More

1/4% Rate Increase = Less Than 4 Lattes

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There have been a lot of rumblings in the news lately about rate increases…mostly because rates have been increasing :).Read More

Interest Expense Always Exceeds Tax Savings; Nobody “Needs” Write-off

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There is no doubt that renters experience a tremendous tax benefit or subsidy when they buy a house. This is b/c they can deduct all of the interest and property […]Read More

“Early Pay Off Penalties” That Originating Lenders Pay

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We discussed the general lack of prepayment penalties (they no longer exist) on Monday. But I also mentioned “Early Pay Off” or “EPO” fees. What Are “Early Pay Off” Penalties? […]Read More

Prepayment Penalties Thing of the Past; Early Pay Off Penalties?

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Prior to the mortgage meltdown, prepayment penalties were relatively common. The penalties were typically from one to five years in length, and were commonly associated with Adjustable Rate Mortgages (ARMs). […]Read More

Accrued Interest on Mortgages – Arrears, Skipping Payments

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Interest on mortgages always accrues in arrears. This means your December 1st mortgage payment covers interest that accrued in November. In contrast, a December 1st car payment will cover interest […]Read More

Accrued Interest and Mortgage Payment Myths

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We had a seller recently who insisted on closing by month-end b/c he could “not afford another payment” on his mortgage. B/c we inherited the deal from another lender 7 […]Read More