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Each payment includes a portion that goes toward the mortgage principle, and another portion that goes toward interest charged by the lender. A mortgage is a home loan that is usually paid back in fixed amounts over a period of time – typically 15 or 30 years. Looking to buy a home? It’s important to take out a mortgage that you can reasonably afford.
Enter your details below to figure out what you might pay each month. Accurately calculating your monthly mortgage payment can be a critical first step when determining your budget.
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