Question about mortgage payments?
My husband and I purchased our first home in January 2009. Our mortgage was for 113,897 @ 5.5%. We used the VA loan with zero down and no PMI. My question is… we paid 5 months of payments at 810 a month and our new balance is 113,394. Does that mean out of the 810 a month… 160 goes to escrow for house insurance and taxes, 100.60 goes to the actual mortgage payment and the remainder 549.40 goes to interest?