What Goes Into Your Mortgage Payment? As a homeowner (or aspiring homeowner), housing costs are likely to be the biggest monthly expenditure for most people. But have you ever wondered what goes into a mortgage payment beyond paying down your loan? Wonder no more. First of all, what is a mortgage? It is a legal document that pledges a property to a lender as security for payment of a debt. Simply put, if you fail to make payments, your lender can take your home. When most people talk about mortgages, they’re actually referring… more