Simple Mortgage is the transaction whereby the possession of the mortgaged property is not transferred to the creditor. The mortgagor accepts himself personally to return the money, but if he/she fails to repay the money on time, than mortgagee have rights to sell the property and get back the loan amount. The category widely covers the list of all the basic Mortgage payment calculators that includes the calculations of mortgage payments and interest rate calculations.
A mortgage payment is the sum up of interest amount (for a specific interest rate) and principal loan amount borrowed from the lender which is to be paid back. These mortgage payment calculations are made easier with the basic mortgage payment calculators listed above.