Mortgages
Can You Pay Your Mortgage With a Credit Card? What Actually Works
Most mortgage servicers refuse credit cards. The workarounds that exist, what they cost, and when paying by card makes a bad situation worse.
Loans & Mortgage
Loans & Mortgage
Legamoney publishes educational information about borrowing: how mortgages are structured and priced, what refinancing changes, how home loans, student loans and personal loans are assessed, and how interest rates, credit files and repayment order affect what a debt costs over its full term. We explain the mechanics. We do not recommend lenders or products.
Featured guides
Home Loans
How Much Mortgage Can I Afford? The 28/36 Rule and What Lenders Check
How lenders convert your income and debts into a maximum loan, why their limit is not your budget, and a worked affordability example.
Loan Calculators
How to Calculate Mortgage Payments (Formula, Example, Calculator)
The amortisation formula behind every mortgage payment, worked through step by step, plus the taxes and insurance most calculators leave out.
How a mortgage payment is built
Four inputs determine every repayment schedule. Understanding how they interact is enough to read any loan offer. The illustration below is structural, not a quote.
01
Loan amount
The principal you borrow after any deposit. Everything else is calculated from this figure.
02
Interest rate
The cost of borrowing the principal, expressed annually. It may be fixed for a period or move with a reference rate.
03
Loan term
The number of years the balance is repaid over. A longer term spreads the principal across more payments.
04
Monthly payment
The scheduled amount covering interest owed for the period plus a portion of the principal.
Principal portion
Reduces the loan amount
Interest portion
Rate applied to the outstanding balance
Loan amount
× Interest rate
÷ Loan term
= Monthly payment
Latest loan articles
All articlesPersonal Loans
Personal Loan APR vs. Interest Rate: Reading the Disclosure
Personal Loan APR vs. Interest Rate: what to verify, which costs and risks to compare, and which records to keep before deciding.
Credit
How Long Negative Items Stay on a Credit Report
How Long Negative Items Stay on a Credit Report: what to verify, which costs and risks to compare, and which records to keep before deciding.
Credit
Hard vs. Soft Credit Inquiries: What Changes Your File
Hard vs. Soft Credit Inquiries: what to verify, which costs and risks to compare, and which records to keep before deciding.
Credit
Credit Utilization: How the Ratio Is Calculated
Credit Utilization: what to verify, which costs and risks to compare, and which records to keep before deciding.
Interest Rates
Mortgage Rate Locks: Deadlines, Extensions, and Risks
Mortgage Rate Locks: what to verify, which costs and risks to compare, and which records to keep before deciding.
Interest Rates
How Central Bank Rate Changes Reach Consumer Loans
How Central Bank Rate Changes Reach Consumer Loans: what to verify, which costs and risks to compare, and which records to keep before deciding.
Popular guides
- 01How Much Mortgage Can I Afford? The 28/36 Rule and What Lenders Check
- 02What Is a Reverse Mortgage? How It Works, Costs, and Risks
- 03How to Calculate Mortgage Payments (Formula, Example, Calculator)
- 04Can You Pay Your Mortgage With a Credit Card? What Actually Works
- 05What Are Mortgage Rates Today? Where to Check and How to Read Them
Important information
Legamoney publishes educational information only. Nothing in this section is financial advice, a recommendation to borrow, or an offer of credit. Lending rules, rates, fees, and consumer protections differ by country, lender, and individual circumstances. Confirm any figure with the lender's own disclosure documents, and speak to a licensed adviser before making a borrowing decision. Read our editorial policy and full disclaimer.