A monthly home payment loan can refer either to your mortgage or to the payments on a home equity line of credit. Fortunately, there are ways of lowering either or both types of loans depending on your current financial situation. Who knows lower monthly payment could mean the different between keeping or losing your home.Everybody dreams to have his or her own house in the future where they can relax after they retire from working. Almost everyone wants to have a place that they could call their own, a place where they don’t need to worry if they’d be kicked out if they cannot pay the rent on time where all they need to worry is the electric and water bills.When you get older you would want to have a place where you could retire peacefully and just wait for your children and grand children to visit you in your house. However there are times when you are in a very tight situation and your other option is to loan your home.There are many different types of loan and one of the most common is the housing loan in this loan you will be required to pledge your home to the lender and let the lender hold the deed of your property until you pay the money you have borrowed.Many people apply for this loan they have their own different reason some maybe due to emergency where they need to get a big amount of money, or to some they need to loan their home in order to pay for some debt. But whatever their reason is when people get this loan they are risking to lose their home. Unless they will manage their loan well and pay off their monthly payment on time.Here are some tips and advices about monthly home loan payment.Paying the bills on time especially your loan bills is your responsibility, when a time come that you will miss your payment for some important reason then you must not panic. The lender will not foreclose your house because you miss one payment, when this happens you must call your lender and talk to them tell them the reason why you missed your payment and ask them what other options you have to settle you miss payment.Doing some research about home loan will also help you along the way, you have to understand about home loans and their payments. When you encounter some problem you won’t panic for you will know what you need to do to resolve the problem.Before you apply for loans you could find a lender that is reputable and can be trusted that also gives you a lower interest rate. You need to gather information and compare then to see which of them gives you a better option.The formula in order to calculate your monthly payment loan is M = (I/12)*P. M stands for monthly payments, I for interest rates and P for principal. So you will need to divide your interest rates by 12 and multiply it with the principal then you’ll get your monthly payment.But the answer to this formula will not be your final monthly payment for there are other fees such as taxes and insurance that will be added by the lender and then you’ll get your final monthly payment.