01
Principal
The portion of each mortgage payment that repays the amount you borrowed.
MORTGAGE GUIDE
What makes up a mortgage payment?
The loan is only part of your housing cost. Here’s what else to include when you’re working out a comfortable monthly budget.
The parts of your monthly housing cost
02
Interest
The cost of borrowing under your loan terms.
03
Property taxes and insurance
Taxes and homeowners insurance may be collected with your mortgage payment through an escrow account.
04
Other costs
Mortgage insurance and homeowners association (HOA) dues may add to your costs. Set aside money for maintenance, too.
How it adds up
Principal
+
Interest
+
Taxes and insurance
+
Other costs
=
Monthly housing cost
“Helped me get my first house! … Couldn’t recommend them more!”
William Loveland
Need help with your budget?
Tell us the home price and payment you’re considering. We’ll explain which costs belong in the estimate.
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What to expect when you call
Your questions answered by a local loan officer
Options compared using your own numbers
A clear next step, with no obligation to apply
(517) 580-5050
114 W Main St, DeWitt
Loan approval is subject to credit, property and underwriting requirements. Some loan products may not be available in all states. Terms, rates and fees are subject to change. This website is not a commitment to lend.
Important mortgage disclosures
Payment estimates
Calculators are educational tools. Results use your inputs and assumptions and are not a rate quote, Loan Estimate, preapproval or guarantee. Actual payments and costs may differ. Include taxes, insurance, mortgage insurance and association dues where applicable.
Refinancing and home equity
Refinancing can involve closing costs and may increase total interest or extend repayment. A lower monthly payment does not necessarily mean a lower total cost. Compare the proposed terms with your existing loan. Borrowing against your home puts your home at risk if you cannot repay.
Application and account access
Apply now and Sign in lead to ShayMak’s existing external application portal. Review that portal’s privacy policy and terms before submitting personal or financial information. An application does not guarantee approval or a specific rate.
Company and licensing
ShayMak Mortgage, LLC. NMLS #1989312. Equal Housing Opportunity. Review current company and individual licensing information through NMLS Consumer Access. Program eligibility and availability depend on your situation and location.