If you are receiving a monthly statement for your mortgage, it should include a breakdown of your payment, including how much goes to principle, how much goes to interest and how much goes to variables such as property taxes, private mortgage insurance and homeowner's insurance. There are two other ways to understand your principle payment each month. Of course, this formula is quite complicated, and it isn't necessary to use it at all. Then subtract it from your actual mortgage payment to determine the principle that you are paying each month. You can use this formula to determine your payment at any time.
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