Taking out a mortgage helps you purchase a home without paying the entire cost up front. Paying off the mortgage over time enables you to become a homeowner.   Because mortgages can be complex, you might be wondering how the payments work. Understanding what is included in a mortgage payment can help you feel more confident in your homebuying decisions.   The following are the main components of a mortgage payment.   1. Principal The principal is the amount borrowed from your

When the time came to purchase my first condo, I had a general understanding of securing a mortgage. As I prepare to purchase my next...