Which amounts are included in my monthly payments?
Interest-only first lien mortgage payments include only the interest that is due on the outstanding principal balance.
If you have a fully amortizing first lien mortgage, portions of your monthly mortgage payment go toward loan principal and interest.
If your first lien mortgage carries mortgage insurance, a portion of your monthly mortgage payment will pay this also, unless the lender has paid your mortgage insurance or you have paid your mortgage insurance upfront.
If you have set up an escrow account for your first lien mortgage, then portions also go toward your property taxes and homeowners insurance.