Real Estate, With Ezio.

For this week’s episode of the #90SecondShow Podcast Edition, I talk about the components that make up your monthly mortgage payment. - 1.) PRINCIPAL: Just like any other kind of loan, there’s always a principal that needs to be paid off. 2.) INTEREST: Also, just like in principal, you always have interest to pay in any kind of loan. The principal and interest, will make up the biggest parts of your mortgage. 3.) HOME-OWNER’S INSURANCE: Just like a car, anytime you finance a home, you’re required to have home-owner’s insurance. Depending on the area and the size of your home, your rate will vary. 4.) PMI aka MORTGAGE INSURANCE: Anytime you purchase a home with less than 20% towards the down payment. You will have to pay for PMI. The only way around it is by allocating 20% or more towards the down payment of your home. 5.) PROPERTY TAXES: Yay, more taxes right? 6.) HOA aka HOME OWNER ASSOCIATION: This is a case by case scenario, certain neighborhoods have HOA’s and some other ones don’t. HOA’s are meant to kee