Mommy Pehpot, Author at Mommy Pehpot

Calculating the Mortgage Estimate

An enormous chunk of your mortgage can be composed of the interest you’re paying on the loan, so people are naturally interested in the interest. The mortgage can be roughly broken down into two components. The first is the principle; the principle is the amount of the loan. For example, if the loan is for $100,000, that one hundred grand is the principle—the actual amount. But you have to take the loan out at a certain interest rate, and for a certain amount of time. So if you take out that $100,000 loan for a 30-year mortgage at an interest rate of five percent, by the time you pay off the mortgage, you have spent $150,000 dollars in interest. That information doesn’t come up front, which is why you need to use an interest only calculator to figure out what you’ll be paying on a mortgage.

Paying Is Principle

When a mortgage is created, it’s “stacked” so that at the beginning of the life of the mortgage, most of the money you pay goes to the interest generated by the duration of the mortgage. Though the method is essentially invisible to the buyer, the fact is that a buyer is mostly paying off the interest generated by the loan. As the years go on, more and more of the principle is paid off. An interest only calculator is an invaluable tool to the consumer in determining whether they should get a loan, and how to most effectively purchase a mortgage. Interest only calculators can be found online, and can be used for free, usually as a component in the website of a mortgage company or a bank. Interest only calculators will help you determine if you want to get into an adjustable or fixed-rate mortgage, and it’s always best to know what you’re getting into before signing with a mortgage.

Card For Daddy

Son heard on the host on TV greeted their dads a Happy Father’s Day, so he asked me if it is really true (I trained him not to believe anything he sees on TV LOL), that it is Father’s Day today. I told him no, but it will be on Sunday.

So he asked for a paper, a pen and some colors.. he’s going to make a Father’s Day Card..

And then he remembered..

There’s national bookstore..

The Protection They Need

Life is very uncertain, things are not permanent. As they say, the only permanent thing in this world is change. Hubby and I were talking about it and how spontaneous life should be. Actually we were discussing about travel and insurance. We find it amusing (more on his side), how people can plan ahead of their time, one thing we both cannot do. Like for example, a week ago, when an airline offered a seat sale that can only be used next year, most people bought a lot of tickets even though they are not sure if they can make it next year. To us, the airline company is not actually giving out seat sale, it’s like they were selling some sort of insurance policy. It’s like you bought it cheap at a certain time but as it matures, the value of your policy increases. That’s almost the same as buying a an airline seat ahead of your flight schedule.

But before we go on with how capitalist utilizes the word sale, we shifted our topic to insurance. This is one topic that took us years before we finally understood. And not just years but also a lot of convincing from my mom’s. She already offered us multiple life insurance quotes, based on our needs, our capacity to pay and the coverage we have to take into consideration. She even discussed to us the different type of insurance and why some are cheaper than the others.

Let me share with you some of the terms that she used just to convince us. She talked about whole life insurance, an insurance type that provides protection for your dependents. This type of insurance builds up a cash value. Another one is for a policy holder who loves risk, this one is called variable life insurance. It provides protection for the policy holder. She also mentioned about term life insurance but she said, this was not really popular here in our country. She said we should focus on a life insurance that will provide permanent protection to our dependents, which is our kids. And to that we said, amen.