All Information about Mortgage Loan & Mortgage payments

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• All Western Mortgage

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What is a Mortgage Loan?
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• In Laymans terms, mortgage loans are the loans
  secured by any kind of property or real estate.
  When a person needs to buy a home and takes a
  loan for the same, that loan is known as a
  mortgage. A mortgage lender is promised that the
  amount lent by him will be paid back by the buyer
  in a certain amount of time at a certain cost.

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• Also, the lender gets a legal claim on the house
  if the borrower/buyer defaults on mortgage
  payments. In simple terms, the borrower gets the
  possession of the home, but the lender is the
  actual owner of the place till the debt is
  completely paid off.

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What is included in Mortgage payments?

• In most cases, mortgage is paid back in the form
  of monthly installments that comprise of interest
  and a portion of principal amount borrowed. The
  repayment of principal reduces the original
  balance of the loan, whereas the interest is the
  cost of borrowing the principal amount.

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The monthly mortgage installments further include
taxes and insurance. Taxes are remitted to local
governments and can vary on the basis of the
location of the borrower. Also, they get
reassessed annually.
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Insurance part of mortgage installments is
further divided into two parts, namely Property
Mortgage Insurance (PMI) and Hazard Insurance.
The former protects the lender in case the
borrower defaults on payments and the latter
protects both the borrower and the lender from
property losses in the event of a natural
disaster.
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How can All Western Mortgage Help?

• At All Western Mortgage, we offer mortgage loans
  to our clients at the best possible rates and
  take pride in providing you with excellent
  service. We are always there for you at every
  step of the process to assist you with all your
  mortgage needs. So, what are you waiting for?
  Call us now on 702-850-2790 or visit our website
  - http//www.awmlending.com/

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Contact Us All Western Mortgage

• Address8345 W Sunset Rd, Suite 380Las
  Vegas, NV  89113
• Phone [phone]Corporate 702-369-0905Fax
  702-906-0153 info_at_awmlending.comWebsite
  http//www.awmlending.com/