A few years ago when I walked the hallways of a high school with my five-year-old niece Evie, she remarked, without prompting: “There’s the principal’s office: you only go there if you are in trouble.

The mortgage principal is the amount you borrow from your lender to buy your house. Your monthly mortgage payment goes toward both the principal and interest. You have the option to make extra ...

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 ...