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...