Sunday, October 26, 2014

What is an estimated mortgage?

i tried looking up this question on Google but it just gave me "mortgage calculators" and stuff. I'm wondering WHAT an estimated mortgage even is. I'm just looking at some houses on Zillow and it shows up "Est. Mortgage: $XXX" For example, one house is $34,900 and the estimated mortgage is $230. Is this like the down payment or what?

Thanks!

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