The Average Mortgage Cost Per Month | Personal Finance
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The Average Mortgage Cost Per Month

Mortgages come in all shapes and sizes. The 30-year fixed-rate
mortgage has the same payments for the life of the loan. A 15-year
fixed-rate mortgage also has established payments but they are higher
because of the shorter time span. Adjustable-rate mortgages, or ARMs,
have low starter rates. With a five-year ARM your payments are steady
for five years, but the rate could go up or down each year after that.
You can refinance anytime. Determining FactorsThe sheer amount of
variables means there is no average mortgage cost. Your mortgage
payment depends on how much you pay for the house, your income, your
down payment, the type of mortgage and how high your credit score
is.
Your Credit S