The amount you borrow for a loan is called the principal. This is the initial sum of money that you agree to repay, typically with interest, over a specified period. The principal amount does not include any interest or fees that may accrue over the life of the loan. Understanding the principal is crucial for managing your loan repayments and calculating the total cost of borrowing.

*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*

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