What does my mortgage payment cover?

When you make a regular mortgage payment, it covers the principal, interest and escrow (if applicable) for a given cycle. Cycles can be either monthly or biweekly, as stipulated in the terms and conditions of the loan.

Example of a regular mortgage payment $1000

Escrow (taxes + insurance) $300.00

Taxes $125.00

Principal $450.00

Interest $250.00

Property Insurance: $175.00

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