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.