Bond Construction
Bond Construction
Your monthly mortgage payment primarily pays off principal and interest. The principal is the remaining balance of your loan, and the interest is the cost of borrowing the money. Typically all or most of your interest payments are tax dedubtible (consult your tax advisor and IRS Publication 936). In addition, a portion of your monthly mortgage payment is usually set aside in an escrow account to pay property taxes and insurance premiums.
The amount of your mortgage payment is affected by the amount of your loan and down payment, as well as the interest rate, and the length of the repayment term and payment schedule.
*All information provided on this site is deemed reliable but is not guaranteed and should be independently verified. Bond Construction and/or their affiliates can not be held liable for typographical errors, layout error, or misinformation contained herein.
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