What is Mortgage Principal, and Why is it Important?
Regan Hagestad
December 30, 2020
Mortgage principal is the amount you borrow from your lender to purchase your home. If your lender gives you $250,000, for example, your mortgage principal is $250,000. You’ll pay this amount off in monthly installments for a predetermined amount of time, maybe 15 or 30 years. You also might have heard the term outstanding mortgage principal before. This refers to
