The document outlines key information about mortgages, including the components of monthly payments, average mortgage rates by state, and surprising facts such as 1 in 7 adults in their 70s still paying off a mortgage. It emphasizes that mortgage payments should not exceed 28% of pre-tax income, and discusses the potential savings from biweekly payments. Additionally, it highlights the importance of mortgage brokers in finding the best interest rates.

1. http://everythingfinanceblog.com/14221/10-surprising-facts-mortgages.html | http://www.barchart.com/economy/mortgagerates.php
| http://www.dailyfinance.com/2013/05/17/5-mortgage-facts-you-need-to-know/
AVERAGE MORTGAGE
RATES BY STATE
WHAT GOES INTO A MONTHLY MORTGAGE PAYMENT?
Lender Payment
including
Interest and
Principal
PMI Insurance
when your
down payment
is <20%
Fixed
interest
Set payment
schedule
Homeowners
Insurance
DID YOU KNOW?
1 in 7 adults in their 70s will still be paying off their mortgage.
NEW YORK
NEW JERSEY
MINNESOTA
NORTH DAKOTA
IOWA
ARKANSAS
WASHINGTON
ALABAMA
KENTUCKY
MISSISSIPPI
MONTANA
OHIO
NORTH CAROLINA
CONNECTICUT
DELAWARE
PENNSYLVANIA
SOUTH DAKOTA
VERMONT
WEST VIRGINIA
GEORGIA
IDAHO
KANSAS
MASSACHUSETTS
NEBRASKA
NEW HAMPSHIRE
SOUTH CAROLINA
VIRGINIA
MARYLAND
MISSOURI
RHODE ISLAND
TENNESSEE
TEXAS
WYOMING
ALASKA
ILLINOIS
INDIANA
OKLAHOMA
MAINE
UTAH
CALIFORNIA
MICHIGAN
WISCONSIN
ARIZONA
OREGON
COLORADO
FLORIDA
LOUISIANA
NEVADA
NEW MEXICO
1
2
3
4
5
6
7
8
9
10
1
2
3
4
5
6
7
8
9
10
1
2
3
4
5
6
7
8
9
10
1
2
3
4
5
6
7
8
9
10
NEW YORK
NEW JERSEY
MINNESOTA
NORTH DAKOTA
IOWA
ARKANSAS
WASHINGTON
ALABAMA
KENTUCKY
MISSISSIPPI
MONTANA
OHIO
NORTH CAROLINA
CONNECTICUT
DELAWARE
PENNSYLVANIA
SOUTH DAKOTA
VERMONT
WEST VIRGINIA
GEORGIA
IDAHO
KANSAS
MASSACHUSETTS
NEBRASKA
NEW HAMPSHIRE
SOUTH CAROLINA
VIRGINIA
MARYLAND
MISSOURI
RHODE ISLAND
TENNESSEE
TEXAS
WYOMING
ALASKA
ILLINOIS
INDIANA
OKLAHOMA
MAINE
UTAH
CALIFORNIA
MICHIGAN
WISCONSIN
ARIZONA
OREGON
COLORADO
FLORIDA
LOUISIANA
NEVADA
NEW MEXICO
1
2
3
4
5
6
7
8
9
10
1
2
3
4
5
6
7
8
9
10
1
2
3
4
5
6
7
8
9
10
1
2
3
4
5
6
7
8
9
10
1
2
3
4
5
6
7
8
9
4%
3%
2%
1%
1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 91 2 3 4 5 6 7 8 9 101 2 3 4 5 6 7 8 9 101 2 3 4 5 6 7 8 9 10
2.82%
2.85%
3.41%
3.42%
3.43%
3.44%
3.45%
3.46%
3.46%
3.46%
3.46%
3.46%
3.47%
3.48%
3.48%
3.48%
3.48%
3.48%
3.48%
3.49%
3.49%
3.49%
3.49%
3.49%
3.49%
3.49%
3.49%
3.5%
3.5%
3.5%
3.5%
3.5%
3.5%
3.51%
3.51%
3.51%
3.51%
3.52%
3.52%
3.53%
3.53%
3.53%
3.54%
3.54%
3.55%
3.55%
3.55%
3.56%
3.58%
Property
Taxes which
can vary from
year to year
Your mortgage
payment should
not exceed 28% of
your income
before taxes.
Mortgage
brokers can
help you shop
for the best
interest rate.
apr
STANDS FOR
"ANNUAL
PERCENTAGE RATE"
AND MEASURES THE
TRUE COST OF YOUR
MORTGAGE.
BY MAKING BIWEEKLY
PAYMENTS YOU CAN
SAVE $27,725 IN
INTEREST ON A 30-YEAR
$250,000 MORTGAGE
AT 4% APR AFTER
SERVICE FEES.
Created by US Equity Advantage