How much is the average mortgage?

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The average national monthly mortgage payment in the United States was $1,687 in mid 2006. By contrast the average rent was roughly $890. What is a mortgage A mortgage is the amount of money borrowed from the bank to purchase a house or other real property. The monthly payment amount varies based on:
  • Total amount borrowed
  • Length of the mortgage (A standard length is 30 years but can be anything)
  • Interest Rate (Fixed or variable, market rate and credit history)
  • Escrow requirements (Based on taxes and insurance and how much money you put down to start with)
  • Other terms (Balloon mortgage)
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How much does the average person pay in fees when refinancing a mortgage?

Answer . \nthere is no data on the average person, so i will tell you what to look for at your appointment. They should present several plans to refinance your mortgage. If they are a good broker they will have a no-fees plan that comes with a slightly higher intrest rate. The important thing ( Full Answer )

How much is the average mortgage amount in the us?

As of the end of the fourth quarter of 2009, there was approximately $14.3 trillion in outstanding mortgage debt outstanding. Of the $14.3 trillion, $2.5 represented non-residential debt, leaving $11.8 trillion due to residential owners. At the end of 2009, there were approximately 129.9 million ho ( Full Answer )

How much Mortgage can you get?

Mortgages... How much can i borrow? \n. \nThe question should not be "how much can i borrow?".. but "how much can i afford?" you should consult a financial or mortgage advisor who can go into your finances in detail and work out which product is best for you, and most importantly what you can aff ( Full Answer )

How much money does the average mortgage broker earn per year?

As the old adage goes, that is like asking "How much does a car cost?" It depends. If you take an average during a huge refi boom, it may be lower, because so many people try to get on the gravy train and make very little. If you average only Brokers, you get a higher figure than if you include loan ( Full Answer )

How much is the average monthly mortgage payment in New York State?

Your monthly mortgage payment is affected by a couple factors, starting with your down payment. A greater down payment decreases the overall sum of the loan, therefore decreasing your monthly mortgage payments. The interest rate will also affect the total of the home loan and the amount you have to ( Full Answer )

How much is the average mortgage in the UK?

From recent press publications, the average mortgage in the UK is £130,000. Keep in mind however that it's the average based on prices in the whole of UK and that includes both very cheap and very expensive areas. To give you an idea of just how massive the price gap is: average cost of 2 bedro ( Full Answer )

What is the average mortgage for a house that cost 250000?

Based on my experience in Illinois, your 30 year fixed mortage principal, interest, taxes & insurance monthly payment will be approximate 1% of your mortgage principal. So, if your mortgage principal is $250,000 less down payment plus interest plus taxes plus interest, your monthly payment will be a ( Full Answer )

Average length of a mortgage?

7 years. Make that SEVEN YEARS. Then, it is either REFINANCED or Paid Off Outright. - roland Henderson at Purpose Funding Foothill Ranch Ca 92610

What is the average mortgage in Dallas Texas?

Dallas is a very large market with a very diverse inventory of homeprices- having said that- the average would be around $ 175,000 intoday's market.

What is the average payment of a mortgage bill?

\nAccording to the US census bureau, the average mortgage payment was 1307 dollars in 2000. \n. \n

What average percentage of mortgage notes do brokers get?

Real estate agents/brokers usually get a % of the price of the property for sale. They do not get any monthly payment/percentage from the mortgage. Real estate agent usually get like 3-5% of the price of sale.

On average how much do most Americans pay for a mortgage each month?

The median household income in the United States is $46,326. When you break this down by 12 months, it wind up to $3,860/month Answer: That's the average monthly salary, not the monthly mortgage payment! If you paid out your entire salary in a mortgage payment, you'd have nothing left for other exp ( Full Answer )

How much is a mortgage?

There is no universal price for a mortgage as there are numerous factors in any given situation such as the nature of the house, its assets, and the financial situation of the person looking to buy it. Ultimately, a mortgage company will help determine whether or not you can afford to buy a house ( Full Answer )

How much is the average mortgage balance in the US?

As of the end of the fourth quarter of 2009, there was approximately $14.3 trillion in outstanding mortgage debt outstanding. Of the $14.3 trillion, $2.5 represented non-residential debt, leaving $11.8 trillion due to residential owners. At the end of 2009, there were approximately 129.9 million ho ( Full Answer )

What is the average bank mortgage rate?

Current mortgage rates are around 3.75%. You will need to check with your local banks for more specific information, since rates vary based on area, amount of loan, and amount of down payment.

What is the average cost of a California mortgage?

The California rates seem to follow the national rates for home mortgages, meaning that they fall in general between 2.5% and 5.5% as starting interest rates. If you are deciding to mortgage your home, you should make sure to read the contract to make sure that the rate will not jump suddenly and th ( Full Answer )

What is the average mortgage payment on 130000?

I don't think there is a such a thing as an average mortgage payment on any given dollar amount. The principal and interest payment depends on several factors besides the loan amount, primarily the interest rate and loan term(length of the loan). To keep it simple, a 130,000 mortgage at 4.5% for ( Full Answer )

What is the average mortgage loan rate?

As of August 23, 2011, the average 30 year fixed mortgage rate is 4.55%. Consumers also may be interested to know that a 15 year fixed mortgage currently yields an average national rate of just 3.83%.

What is the average mortgage rate in Texas?

"The average mortgage rate ranges from 3.2 to 4.1% in Texas, depending on the mortgage company you choose and your current credit score. Also, it may vary with the type and area of property you are looking at."

How much is mortgage average payment per month?

Your average mortgage rate and payment depend on many factors including where you are looking to purchase your house, personal income, and your credit score. Many mortgage companies offer online mortgage calculators that can be useful in determining what your monthly home loan payment will be.

How much is a mortgage registration fee?

The mortgage registration fee is a State Government charge for the registration of a home loan. Because the property acts as security for a home loan, the government requires a home loan to be registered so that all claims on a property can be checked by any future buyers of that property. This fee ( Full Answer )

How much is the minimum for mortgage loans?

Most banks will have a minimum amount that they are willing to lend for a mortgage. Typically they will not lend less than $40,000, but prefer amounts greater than $50,000. Any amount under approximately $100,000 is likely to have a higher interest rate in order for the bank to make a profit off o ( Full Answer )

What is the average rate for a mortgage loan?

The average rate for a mortgage loan would depend on the rates for the day that you are inquiring. Rates may change on a daily basis. Today's average rate is 3.25%.

What is the average house mortgage rate?

There are many factors that can play into your house mortgage rate such as age and credit history as well as the size of your loan. On average, a mortgage will run you about 3% to 4.5%

How much is a mortgage closing cost?

A mortgage closing cost may include any or all of the following: discount and origination points, the application fee, appraisal fee, credit report fee, title search and title insurance, and a survey fee.

What is the average cost of mortgage insurance?

The best way to find out the average cost of morgage insurance is to talk to a local bank. Another way is to go on websites that will have such information and determine the average cost.

What is the average mortgage rate interest?

The average mortgage rate on the United States has gone down since the recession in 2008. Right now they are averaging between a 4% an a 6%. However, this number depends on a number of factors like the base rate, the Libor, the number of repossessions and the unemployment rate of the country.

What would be considered an average mortgage payment?

There is no such thing as an average mortgage payment. This is down to the fact that house prices vary nationwide, interest rates vary and the length, or term, of a mortgage will also vary.

What is the average loans APR for mortgages?

The average loans APR for mortgages will depend on which country one is in and how long the mortgage is. In the United States the average is 5.016 APR for a 30 year mortgage and 3.122 APR for a 15 year mortgage.

What are average mortgage rates in the US?

According to the website Bankrate, the average mortgage rate in the United State for the last twenty years is 3,65%. According to Ycharts, said average is of 3,42%.

What is the average California mortgage rate?

The average California mortgage rate is as low as 3.250 percent for a 30 year term. That rate is from "loan safe" and is one day old. Other rates were found claiming that the average was 3.43 percent, which even though it is slightly higher, will make a big difference over the years.

What is the average mortgage for Massachusetts residents?

Massachusetts residents, on average, have very high mortgages in comparison to the rest of the United States. The average mortgage is around $220,000 making Massachusetts ranked as the sixth highest state in the nation.

What are the average California mortgage rates?

If people looking to review mortgage rates on the California mortgage site were to look for an average rate it would be an average 3.900 based upon the figures available.

How much does an average US home mortgage cost?

The average United States home mortgage will depend on the location, age and size of the house. In February 2013, the average house in the United States cost $152,000. As for the actual mortgage rate, that will depend on the length and type of mortgage one gets. On average, a 30 year fixed rate woul ( Full Answer )

What are the average closing costs associated with mortgages?

You pay this amount in addition to the down payment, its a miscellaneous fee charged by those who are involved with the sale of home, such as the bank or financial institution who is processing your loan, a land surveyor, local council offices for recording actions, closing costs is usually around 2 ( Full Answer )

What is the average rate of a 5 year mortgage?

The average rate of a 5 year mortgage in Canada seems to be just over 3%. The rate can go up or down depending on if the mortgage is closed or variable.