Veterans United's video: Understanding Your VA Mortgage Payment PITI

Chris Birk, Director of Education at Veterans United Home Loans, introduces you to understanding your VA mortgage payment (PITI). It’s easy for VA buyers to think of their monthly mortgage payment as one flat bill to take care of every month. But your mortgage payment is really the sum of a handful of expenses related to buying and owning a home. Homebuyers will often see these four costs described as PITI (principal, interest, taxes, insurance). Essentially, you’re paying one bill each month, with funds distributed two different ways -- one chunk for principal and interest, the other for your monthly escrows for taxes and insurance. Time Stamps 0:08 - What Makes Up Your Mortgage Payment 0:18 - Principal 0:27 - Interest 0:33 - Property Taxes 0:49 - Homeowners Insurance 1:29 - Fixed Rate Mortgage 1:44 - Taxes & Insurance Can Change 2:32 - Real World Example 3:45 - Cutting Down on Interest Payments 4:21 - Real Estate Property Taxes 4:58 - Property Tax Exemptions for Disabled Veterans 5:33 - Escrow Example Learn more about VA mortgage payment: https://www.veteransunited.com/educat... For more on homebuying, follow us on: Facebook: https://www.facebook.com/vuhomeloans/ Twitter: https://twitter.com/VeteransUnited Instagram: https://www.instagram.com/veteransuni...