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

Your monthly mortgage payment is likely your biggest expense. Therefore, you might want to lower your payment to free up funds to meet...

Purchasing a home is one of the biggest financial decisions you can make. Therefore, determining how much you can afford to pay each...

I co-owned my first home when I got married in my 20s. We both had high credit scores and were fortunate to secure a low interest rate on...

I held a loan originator license while working as a licensed financial coach. I helped individuals and families who wanted to buy a home...

I co-owned three condos during my marriage: one that we lived in, one that we rented out, and one that we flipped. We both had excellent...

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...