Apply For a Loan

Most loans have 4 parts:

  • Principal – the repayment of the amount you actually borrowed
  • Interest – payment to the lender for the money you’ve borrowed
  • Homeowners insurance – a monthly amount to insure the property against loss from fire, smoke, theft, and other hazards required by most lenders
  • Property taxes – the annual city/county taxes assessed on your property, divided by the number of mortgage payments you make in a year.

Leave a Reply