The three of the costs that make up a mortgage payment are principal, interest, taxes, and insurance.
What is mortgage payment?
The four components of a mortgage payment are principal, interest, taxes, and insurance. The Principal portion is the amount that goes toward paying off your loan.
The cost of borrowing money is called interest. Your interest rate and loan balance determine the amount of interest you pay.
Thus, three of the costs that make up a mortgage payment are principal, interest, taxes, and insurance.
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