What is principal interest - 5 Steps to Getting on Top of your Mortgage



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Mortgage Professor about principal interest:

Mortgage Prepayment: Is it a Good Investment?
April 19,1999 "At the present time I can afford to double the monthly payment on my 7 5/8% mortgage, which would reduce the length of my loan from 25 to 5 years. However, if I were to deposit the extra payment in my savings account, I would earn 3% interest on it. ... more...

Annual Principal Payments on an Interest-Only
2 May 2005 "I realize that I don?t pay principal on an interest-only, but it is important to me to keep the monthly payment down. Yet I get a bonus every year. Would a large payment at year-end make up for the monthly principal payments I do not make during the year ... more...

principal interest related definitions

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Housing Expense-to-Income Ratio The ratio, expressed as a percentage, which results when a borrower's housing expenses - (PITI - Principal, Interest, Taxes, and Insurance) divided by the gross monthly income. This ratio is sometimes referred to as the top ratio or front end ratio. ... more...

Housing Expense-to-Income Ratio
Housing Expense-to-Income Ratio The ratio, expressed as a percentage, which results when a borrower's housing expenses - (PITI - Principal, Interest, Taxes, and Insurance) divided by the gross monthly income. This ratio is sometimes referred to as the top ratio or front end ratio. ... more...

More about principal interest

Get Free principal interest Quotes and Estimates
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5 Steps to Getting on Top of your Mortgage
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What Length Mortgage Is Right For You?
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User Guide to Payday Loan Terminologies
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A Quick Guide to Mortgages
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Home Equity Increases $1 Trillion in Five Years Is the Market Peaking?
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5 Ways To Protect Your Bond Portfolio From Rising Interest Rates
The Federal Reserve recently raised its target federal funds rate for the first time since March 2000. This could be just the tip of the iceberg, though, as many experts believe rising inflation and a strengthening economy will spur continued rate hikes for the foreseeable future.This is bad news ... more...

Online Home Equity Loans
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Home Equity Loan and Home Equity Loans
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How Ginnie Mae and Mortgage-Backed Securities Help You Get in a Home
Ginnie Mae is a government guaranteed business that is responsible for helping people finance homes. Ginnie Mae has highly trained and knowledgeable work force working in the best interest of the families and mortgage lenders they help.Ginnie Mae works with mortgage backed securities to help make ... more...

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