What is included in a monthly mortgage payment?

What is included in a monthly mortgage payment?

Ron Goodlin (Mortgage Banker and Broker, The Goodlin Group) gives expert video advice on: Will lenders look at my bank accounts?; What can I do if I am rejected for a mortgage loan?; How much of my monthly payment is considered interest? and more...

In a monthly mortgage payment, one of two things will be included. If you've got a principal and interest loan, then it'll be the principal payment with the interest only payment. Or you can do an interest only payment, and that's all you'll have.