May is a busy season for homebuyers, so this is the perfect time to get back to the mortgage basics.
In this video, Mitch Milat explains how a mortgage works in simple, easy-to-understand terms. You will learn what a mortgage is, what may be included in your monthly payment, why your loan term matters, and why getting pre-approved is one of the smartest first steps before shopping for a home.
A mortgage can feel confusing at first, but it is really just a loan used to buy real estate. Like a good taco, there are layers. Your monthly payment may include principal, interest, property taxes, homeowners insurance, mortgage insurance, and homeowners association dues.
Mitch also explains how your interest rate, loan amount, down payment, taxes, insurance, and loan program can affect your estimated monthly payment.
As the May housing market heats up, buyers should remember that affordability is not just about the home price. It is about the full monthly payment and the real cost of owning a home, including utilities, repairs, moving costs, and surprise expenses that pop up like uninvited guests at a barbecue.
Whether you are buying your first home or buying again after a few years, understanding mortgage basics can help you ask better questions and make better choices.
Every buyer’s situation is different. There is no one-size-fits-all mortgage, so it is important to work with a licensed mortgage professional who can explain your options.
Company Name: CMG Home Loans
Brand Name: Dream Home Podcast
Host: John Nagle
Company Website: https://www.dreamhomepodcast.com
Sponsor Website: https://www.cmghomeloans.com/mysite/John-Nagle
YouTube Channels:
https://www.youtube.com/@DreamHomePodcast
https://www.youtube.com/@DreamHomeStrategist
https://www.youtube.com/@JohnNagleTeam
Contact John Nagle:
John Nagle
Mortgage Loan Originator, CMG Home Loans
Phone: 214.785.6010
Email: jnagle@johnnagleteam.com
Address: 2591 Dallas Parkway, Suite 505, Frisco, TX 75034
Licensing Information:
https://www.nmlsconsumeraccess.org/
Equal Housing Opportunity
Personal NMLS# 2137908
Corporate NMLS# 1820
Branch NMLS# 1699057
Follow John Nagle:
Facebook: https://www.facebook.com/profile.php?id=100095491900431
LinkedIn: https://www.linkedin.com/in/johndnagle/
Instagram: https://www.instagram.com/johnnagleteam/
Twitter: https://twitter.com/johnnagleteam
Licensing & Disclaimers:
The information is intended to be viewed for informational purposes only. The content contained herein is not guaranteed or endorsed by the company, or any company mentioned, nor is this content meant to be an offer of credit. The information contained in this video may not be wholly or at all applicable to every situation or jurisdiction. You are strongly encouraged to consult your professional mortgage advisor before acting upon any information in this video. The information provided is for use as a training tool only. The information is not intended, nor should it be relied upon for any other purpose.
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