What is my monthly house payment?

The components, that make up the Monthly Housing Expense (MHE), become clear when the home owner has to make the payments.

The monthly mortgage payment is one component of the MHE.

The MHE can include all of, or a few of, the following components:

Amortizing loans have 2 components; Principal & Interest (P&I)

The monthly1st mortgage payment is normally referred to as "PITI".

It's up to the consumer to discover the makeup of the MHE before any purchase decision. Be safe not sorry.

After the fact payment shock can have a devastating impact on the family budget. What is my house payment is an important question and should be taken seriously.

Existing and previous homeowners have a better understanding of the MHE components and are normally prepared for the impact of a new home loan on the family budget.

Understand the MHE and avoid potential payment shock.