Principal is the amount you borrowed, and interest is the amount you pay to the lender as a charge for borrowing. To calculate interest, multiply the principal amount by the interest rate, then ...

Need cash now? Use our Personal Loans Tool to lock in great offers in minutes! Calculating the interest rate on a personal loan can be difficult. Most lenders use simple interest rather than compound ...

Kiah Treece is a former attorney, small business owner and personal finance coach with extensive experience in real estate and financing. Her focus is on demystifying debt to help consumers and ...

Principal is the amount you borrow and interest is the added charge you pay to borrow it. The interest rate determines the total cost of a loan and how long it will take to pay off the principal. Many ...

Recasting lowers your monthly payment, but it doesn't shorten your mortgage or maximize interest savings. Making an extra principal payment won't lower your monthly payment but can reduce the total ...

Text Callout : Key Takeaways - I Got a Tax Windfall: Should I Recast My Mortgage or Make a Principal Payment? If you've received a large tax refund, you might consider putting it toward your mortgage ...