The interest you pay on top of the loan principal that is expressed as a percentage. For example, you have a mortgage of $100,000 at a rate of 5%. Your monthly payments will consist of a portion of the original $100,000, plus 5% interest.
The interest you pay on top of the loan principal that is expressed as a percentage. For example, you have a mortgage of $100,000 at a rate of 5%. Your monthly payments will consist of a portion of the original $100,000, plus 5% interest.
