Estimate your monthly payments and see how much interest you'll pay over the life of your loan.
| Month | Principal | Interest | Balance |
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A mortgage is a loan used to purchase a home or other property. The borrower pledges the property as collateral to the lender. The loan is typically repaid in equal monthly installments over a set period, commonly 15 or 30 years.
Each monthly payment is split into:
In the early years of the loan, most of your payment goes toward interest. As time passes, more of your payment goes toward principal.
