A mortgage payment is a monthly disbursement of funds paid by the borrower of a loan to the loan lender, according to BusinessDictionary.com. A monthly mortgage payment may or may not include additional funds for real es... More »

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To calculate the monthly payments on a fixed rate mortgage, use the following formula: M = P [ i (1 + i)^n ] / [ (1 + i)^n – 1], reports NerdWallet. This formula takes into account the principal, or the initial amount bo... More »

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An estimate of a mortgage payment is calculated by summing the payments required for monthly principal, interest, real estate taxes, private mortgage insurance, and other inclusions such as property insurance installment... More »

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A mortgage equation is the mathematical formula that a lender uses in order to determine the borrower's fixed monthly payment to pay off a mortgage loan over a period of time. The lender calculates a mortgage amount usin... More »

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The loan disbursement fee is charged by the lender when student loan funds are given to the borrower. It's also called a loan or origination fee, states the Department of Education. The fee varies by lender and is usuall... More »

A mortgage payoff letter is a letter from a mortgage lender that explains to the borrower how to pay off the home loan. As the end of a loan agreement approaches, the borrower requests a mortgage payoff letter in order t... More »

A mortgage commitment letter is a statement from a lender to the borrower which confirms that the borrower has secured the loan and can now go ahead with closing, according to The Nest. The letter highlights the terms of... More »