Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views :
Home / Mortgage Advice / Mortgage Basics – What is a Mortgage? 2019

Mortgage Basics – What is a Mortgage? 2019



Welcome to EitanPinsky.com, where you will find all the answers to your home financing needs.

In this video, I will explain: Mortgage Basics

When you want to buy a house, there is a good chance that you will need to get a mortgage.

For instance, take my friend Byron the Home Buyer. Byron wants to buy a home but he only has a small down payment to pay for it. Byron would need to get a mortgage for the remainder…

A mortgage is a loan, usually from a bank, that provides a home buyer with the money required to purchase a home. In return for receiving a loan, the homebuyer needs to pay back the bank with interest.

Let’s assume that Byron has $10,000 and would like to purchase a $200,000 home. In this case, Byron doesn’t have enough cash to pay for his home. Byron will need to borrow $190,000.

Byron chooses a 30-year amortization 5% fixed rate mortgage. – Don’t worry, I will explain what all of that means in another video… This means that Byron must make monthly payments to his bank of $1,014. After making this payment for 30 years, Byron will own his house!

Congratulations Byron, on purchasing your first home!!

Over the course of 30 years, Byron pays back the $190,000 he owes the bank plus $175,000 in interest. In very simple terms, this means that his $200,000 home actually cost him $375,000.

However, if the loan was paid back, in let’s say, 20 years, Byron would save a over $65,000

Byron’s mortgage helped him purchase his home. But it’s important for him to remember that his home is also a type of debt. The faster he pays off his mortgage, the less he pays in interest, the sooner Byron becomes debt free.

Thank you for watching!

source

Every day we bring you the top trending videos and news being shared around the web. What’s Trending also gives you access to your favorite digital stars and The pulse of what’s trending on YouTube. Check out the latest music videos, trailers, comedy clips, and everything else that people are … Trending this Week.

Trending videos are any videos that YouTube users are interacting with at a very high rate. Often these videos were recently uploaded (a day or so ago). As previously mentioned, you can view the current trending videos under the “Trending” tab on the YouTube homepage, even if you’re not logged in or don’t have an account.
For brands, the goal of creating trending content isn’t necessary. It could be a shoot-for-the-stars goal, because if one of your videos goes viral, it could end up on the trending page and thus gain significant exposure to your company. However, silly commercials, like those on the Super Bowl, have ended up as trending YouTube videos shortly following their television debut

PSN: TheJuaN
www.Twitch.tv/juanirizarry

Instagram: @JuanIrizarry
Snapchat: @JuanIrizarry
Twitter: @LikkeJuan
Twitch: @JuanIrizarry
Vine: @Juanirizarry

www.youtube.com/LikkeEntertainment

  • Facebook
  • Twitter
  • Google+
  • Linkedin
  • Pinterest
  • Reddit