Mortgage calculator, what you need to know
A quick overview for the modern day home buyer is in order. Conventional fixed rate mortgages are the least complicated of the mortgage loans. The mortgage debt is repaid in equal monthly installments consisting of principal and interest and, frequently, insurance and tax escrow payments over a set number of years. Payments go first to paying down interest, then to principal. The attraction of this type of mortgage loan lies in the security of having a set monthly payment amount.