![]() ![]() This is essentially what the lender is charging you to borrow the money. A portion of each payment will go toward paying this off, so the number will go down as you make monthly payments. Principal is the amount of money you borrowed on the mortgage. Here’s what to look for when reviewing your mortgage costs and fees: It also can be difficult to understand what you’re paying for-and why. If this is your first time shopping for a mortgage, the terminology can be intimidating. These calculators are free and available online, allowing you to experiment with different scenarios and variables whenever you please. ![]()
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