I know nothing about how payments are done for houses. I am actually a student and am interested in the

Asked by Chanse, Greenville, MS Thu Jul 9, 2009

future and wanted to know how the payment of the houses are done. I assume that they are done monthly, and if so, is there an average per price range?

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, ,
Fri Jul 10, 2009
You are way ahead of the curve just by asking. Check out http://www.bankrate.com for a lot of information on mortgages and credit cards and...
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Larry Story, Agent, Greensboro, NC
Thu Jul 9, 2009
Chanse,
Yes mortgage payments are monthly. Unlike rent a mortgage is paid in for the month you have already lived in. For example when you rent you are paying for the next month. In a mortgage situation you pay for the past. Payments are based on how much you borrow, the interest rate that you have on your loan, and the term of the loan ( the repayment period like 30 years).

So no real average price.
Sorry

Hope this helps,
0 votes
Linda S. Cef…, Agent, Franklin, WI
Thu Jul 9, 2009
It's good to hear that as a student you are interested in the home buying process. It would help me to know if you are in college or high school or other.

Linda
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