Mortgage Principal Definition: The mortgage principal is the central part or original amount you borrow to finance the cost of your home. This amount does not include additional fees, interest, or insurance premiums, usually paid along with each monthly mortgage payment.
Each monthly mortgage or loan payment will include a portion of the mortgage principal, plus applicable charges for the lender’s service. Over time, once the principal is paid down and there are fewer payments left on a mortgage, the interest may decrease as well.
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