Why Did My Monthly Mortgage Payment Go Up?

Why did your monthly mortgage payment go up? Typically, the total you pay toward the principal and interest should remain the same throughout the life of the mortgage. The increase could come from a number of factors and there may be something you can do about it besides paying more each month. More than likely, you can rule out principal and interest and look to one or more categories. It's always best to monitor your mortgage payment and all its components. Let’s take a closer look at why your lender suddenly asked you to pay more.

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