How Do Mortgage Calculations Work?

Video Transcript

"Hi mortgage calculations not that easy but not that hard either once you have the right information. Hi my name is Adriel Torres with ultimate credit today dot com. Mortgage calculations are based on amortization, rate and loan amount, those are the three factors that determine a mortgage payment. The easiest way to find them, or to find the mortgage payment is to go online and type in mortgage calculator in any of the search engines and use those three numbers. Once you have those three numbers you can plug them in and the mortgage calculator will give you a mortgage payment but please don't forget you also have your taxes, and your insurance whether you pay those together with the mortgage payment or not you still have to add those two numbers in order to give you a full mortgage payment. Otherwise known as piti which is principle, interest, taxes and insurance. So please don't forget to add those two and you'll have your entire mortgage payment. Again my name is Adriel Torres with ultimate credit today dot com. Thank you so much."