For most homeowners, the monthly mortgage payment includes three separate parts ? A payment on the principal of the loan (that is, the amount borrowed) ? A payment on the interest ? A payment into a special account (called an escrow account) that your lender maintains to pay for things like your hazard insurance and property taxes.

The bulk of your monthly mortgage payment goes toward paying off the principal and interest of your loan. In addition, most lenders require that you pay a sufficient amount to cover your local real estate tax, plus your homeowner's or hazard insurance. This amount is placed in an escrow account, from which your lender then pays your tax and insurance bills as they come due. See similar questions...

The bulk of your monthly mortgage payment goes toward paying off the principal and interest of your loan. You may hear lenders refer to this as "PI", for Principal & Interest. In addition, most lenders require that you pay a sufficient amount to cover your local real estate taxes, plus your homeowner's or hazard insurance. You may hear this "total" payment referred to as "PITI", or Principal, Interest, Taxes & Insurance. See similar questions...

Mortgage payments generally include four basic components- principal, interest, taxes, and insurance (referred to as PITI). While principal and interest are paid directly to the lender, taxes and insurance are directed into an escrow account, which the lender uses to pay the annual insurance premium and taxes. See similar questions...

If you have a fixed interest rate and term mortgage, your payment will not change from month to month as long as you make payments on time. If you have an adjustable interest rate and term home loan, your mortgage payment will change according to the mortgage loan terms. See similar questions...

The monthly payment will include principal, interest and the monthly cost of real estate taxes and insurance. Your lender will provide an estimated payment for you. See similar questions...

Principal, insurance, taxes, interest, condo fees, and mortgage insurance, if applicable. (See next question) See similar questions...