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    perty. This policy covers the policy holder in the event the property is destroyed or damaged.

    Mortgage insurance

    This is an insurance payment required by some lenders when the loan amount is very high as

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    When a lender evaluates your mortgage application a big factor they consider is your estimated future housing expense.

    This housing expense is broken down into the following areas:

    your first mortgage loan
    your second mortgage loan (if any)
    hazard insurance
    mortgage insurance
    property taxes
    home ownership association dues
    miscellaneous expenses

    First mortgage loan

    This is the projected monthly expense of your first mortgage on the property. The lender often uses a "qualifying rate" which is an interest rate they use in their calculations to see if you qualify for the size payment you are looking for.

    Second mortgage loan

    This is the monthly payment on your second loan, if you will have one.

    Hazard insurance

    This is the monthly payment for the hazard insurance policy on the property. This policy covers the policy holder in the event the property is destroyed or damaged.

    Mortgage insurance

    This is an insurance payment required by some lenders when the loan amount is very high as a

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    your second mortgage loan (if any)
    hazard insurance
    mortgage insurance
    property taxes
    home ownership association dues
    miscellaneous expenses

    First mortgage loan

    This is the projected monthly expense of your first mortgage on the property. The lender often uses a "qualifying rate" which is an interest rate they use in their calculations to see if you qualify for the size payment you are looking for.

    Second mortgage loan

    This is the monthly payment on your second loan, if you will have one.

    Hazard insurance

    This is the monthly payment for the hazard insurance policy on the property. This policy covers the policy holder in the event the property is destroyed or damaged.

    Mortgage insurance

    This is an insurance payment required by some lenders when the loan amount is very high as

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    the projected monthly expense of your first mortgage on the property. The lender often uses a "qualifying rate" which is an interest rate they use in their calculations to see if you qualify for the size payment you are looking for.

    Second mortgage loan

    This is the monthly payment on your second loan, if you will have one.

    Hazard insurance

    This is the monthly payment for the hazard insurance policy on the property. This policy covers the policy holder in the event the property is destroyed or damaged.

    Mortgage insurance

    This is an insurance payment required by some lenders when the loan amount is very high as

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    Second mortgage loan

    This is the monthly payment on your second loan, if you will have one.

    Hazard insurance

    This is the monthly payment for the hazard insurance policy on the property. This policy covers the policy holder in the event the property is destroyed or damaged.

    Mortgage insurance

    This is an insurance payment required by some lenders when the loan amount is very high as

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    perty. This policy covers the policy holder in the event the property is destroyed or damaged.

    Mortgage insurance

    This is an insurance payment required by some lenders when the loan amount is very high as a percentage of the property's value. When a buyer puts down no or a small down payment the lender may charge this additional amount to offset their risk.

    Property taxes

    This is the monthly expense of the property's annual property tax burden.

    Home ownership association dues

    These are the monthly dues for the home ownership association, if there is one. These dues can be for property maintenance such as lawn mowing and grounds keeping.

    Miscellaneous expenses

    These are any other housing related expenses.

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