If you have a fully amortizing mortgage, portions of your monthly mortgage payment go toward loan principal and interest. Interest-only mortgage payments include only the interest that is due on the outstanding principal balance. If your 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 mortgage, then portions also go toward your property taxes and homeowners insurance.
Storehouse Mortgage is an assumed business name of Trinity Oaks Mortgage, LLC NMLS #1443326 in the State of Texas. All information contained herein is for informational purposes only. Rates, terms programs shown do not demonstrate all options or pricing structures. This is not an offer to extend credit or a commitment to lend. All loans are subject to underwriting approval. Some products may not be available in all states and restrictions apply. Storehouse Mortgage is an assumed business name of Trinity Oaks Mortgage, LLC NMLS #1443326 in the State of Texas.
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