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Monthly Mortgage Payment
Your monthly payment is something that you should take very seriously. If you're thinking about buying a home then this will be very helpful. Even if you already have a home there are many things you can do to save money on your mortgage. The only thing you'll need is a mortgage calculator that you can use for free on my website.
Buying A Home
If you're just buying a home for the first time then there's going to be a lot of things you need to know. You should try to figure out your debt to income ratio which is basically what you think you can afford per month based on your income and spending habits. Once you have the amount you can afford per month then you can figure out your borrowing power. That's the amount you can borrow with the bank based on how much you can afford per month.
You don't have to always max out your spending each month. You should figure out what you can afford for your monthly payment, then use a mortgage calculator to figure out how much of a home you can afford. Make sure you remember to add in monthly taxes, insurance and condo fee if they apply. That would highly affect your monthly payment.
Own A Home
The first step to saving money on your home is to check the current interest rates. If you could even save 1/4% then it would be helpful. Use my free mortgage calculator to see the savings in a lower interest rate. you'll have to pay to refinance but it would still be worth it if you can make your money back in the next year or so.
The next step you can take is to pay down extra principal each month. A mortgage calculator will tell you exatly how much you'll save and how many years you'll take off of your mortgage. Use an amortization schedule too if you want to see how much principal and interest are being put toward your monthly payment. It will give you the complete breakdown and let you know where you're at each month and year of your mortgage.
As you can see above your monthly mortgage payment is very important because there's so many ways to save money. Start out with my free interest calculator to figure out your monthly payment and what you want it to be. Then start your savings! | 
