What Does A Mortgage Payment Include

Dated: 04/12/2019

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What Does a Mortgage Payment Include?


Typically a monthly mortgage payment is made up of these four parts:


1. Principal ~ the amount in the monthly payment that reduces the original amount borrowed. 

2. Interest ~ the fee charged to borrow on the remaining outstanding balance

3. Real Estate Taxes ~ a percentage of the assessed property value

4. Homeowner's Insurance ~ Financial protection in case of loss

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Laura Gomoll

Laura Gomoll is a 16-year real estate veteran, she knows first hand what it takes to help buyers and sellers to achieve their real estate goals. Laura enjoys working with first time buyers. "I really ....

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