100% Kelly

My husband has been in the real estate industry for almost 10 years now and is still surprised at how indifferent some buyers are with regards to the computation of their exact mortgage amount are. Granted that not every one of us would know how to compute for our periodic payments – which is simple enough using MS Excel, but at least some would make the effort to seek an explanation and understand how the figure was derived. This is a serious topic since payments, whether buying a car or property; usually delve in years (decades even). As a cost-conscious individual, I wouldn’t want to be stuck paying a high mortgage when I could have asked for a more affordable term to begin with.

Amortization is always a part of big-ticket purchases. I won’t go into the formula as I’m no expert in the subject. But suffice it to say, that we can ask someone proficient in accounting or finance to teach and compute for us and better yet if help is out of reach visit a Free Mortgage Quote site via the web. Knowing what to look out for is very important as money is never cheap. There are a lot of variables in the formula but they all translate into one result – COST! Having said this, I hope that this could serve as an eye opener for everyone to take time and understand what you are literally paying for.