I love it when I find a great graphic! This one shows what makes up a mortgage payment. I’m always searching for an easy way to explain different parts of the process of home buying and selling. It’s tricky because I want to make sure my clients have all the info they need but at the same time, doing that can sometimes overwhelm people.

If you are considering making your first home purchase, this is the easiest explanation I’ve seen yet. The price of $269k is just random. On the other hand, the rate of 4.54% was based on the current rate at the time the graphic was made. At this time the rate is at 3.83% so that should lower the payment a little bit.