Question

Why is it possible for a conventional mortgage payment to fluctuate over the life of the mortgage?.

Answer 1

Answer:
Even if you have a fixed rate loan, your payments may change if you are paying your taxes and insurance through an escrow account maintained by your servicer. If there is a change in your property taxes, the escrow portion of your monthly payment may go up.

Answer 2

Whether your mortgage payment changes depend primarily on three factors. The factors are the type of mortgage loan you have, changes in your property taxes and changes in your homeowner's insurance premium. There are also some miscellaneous issues that will change your mortgage payment. We look at how this works.