Mortgage Calculator

Sale price:
Down percent: %
Term of years: años
Annual interest: %
 


Mortgage information payments:
Down payment: $12,500.00
Financing price: $237,500.00
Monthly payment: $1,580.09


Month: Interest Paid: Principal paid: Remaining balance:
1 $1,385.42 $194.68 $237,305.32
2 $1,384.28 $195.81 $237,109.51
3 $1,383.14 $196.95 $236,912.56
4 $1,381.99 $198.10 $236,714.45
5 $1,380.83 $199.26 $236,515.19
6 $1,379.67 $200.42 $236,314.77
7 $1,378.50 $201.59 $236,113.18
8 $1,377.33 $202.77 $235,910.42
9 $1,376.14 $203.95 $235,706.47
10 $1,374.95 $205.14 $235,501.33
11 $1,373.76 $206.34 $235,294.99
12 $1,372.55 $207.54 $235,087.45
Total of years: 1
  You will spent: $18,961.12 on your house in year 1
$16,548.57 will go towards INTEREST
$2,412.55 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
13 $1,371.34 $208.75 $234,878.70
14 $1,370.13 $209.97 $234,668.73
15 $1,368.90 $211.19 $234,457.54
16 $1,367.67 $212.42 $234,245.12
17 $1,366.43 $213.66 $234,031.45
18 $1,365.18 $214.91 $233,816.54
19 $1,363.93 $216.16 $233,600.38
20 $1,362.67 $217.42 $233,382.96
21 $1,361.40 $218.69 $233,164.26
22 $1,360.12 $219.97 $232,944.29
23 $1,358.84 $221.25 $232,723.04
24 $1,357.55 $222.54 $232,500.50
Total of years: 2
  You will spent: $18,961.12 on your house in year 2
$16,374.17 will go towards INTEREST
$2,586.95 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
25 $1,356.25 $223.84 $232,276.66
26 $1,354.95 $225.15 $232,051.51
27 $1,353.63 $226.46 $231,825.05
28 $1,352.31 $227.78 $231,597.27
29 $1,350.98 $229.11 $231,368.16
30 $1,349.65 $230.45 $231,137.72
31 $1,348.30 $231.79 $230,905.93
32 $1,346.95 $233.14 $230,672.79
33 $1,345.59 $234.50 $230,438.28
34 $1,344.22 $235.87 $230,202.41
35 $1,342.85 $237.25 $229,965.17
36 $1,341.46 $238.63 $229,726.54
Total of years: 3
  You will spent: $18,961.12 on your house in year 3
$16,187.16 will go towards INTEREST
$2,773.96 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
37 $1,340.07 $240.02 $229,486.52
38 $1,338.67 $241.42 $229,245.09
39 $1,337.26 $242.83 $229,002.26
40 $1,335.85 $244.25 $228,758.02
41 $1,334.42 $245.67 $228,512.34
42 $1,332.99 $247.10 $228,265.24
43 $1,331.55 $248.55 $228,016.69
44 $1,330.10 $250.00 $227,766.70
45 $1,328.64 $251.45 $227,515.24
46 $1,327.17 $252.92 $227,262.32
47 $1,325.70 $254.40 $227,007.93
48 $1,324.21 $255.88 $226,752.04
Total of years: 4
  You will spent: $18,961.12 on your house in year 4
$15,986.63 will go towards INTEREST
$2,974.49 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
49 $1,322.72 $257.37 $226,494.67
50 $1,321.22 $258.87 $226,235.80
51 $1,319.71 $260.38 $225,975.41
52 $1,318.19 $261.90 $225,713.51
53 $1,316.66 $263.43 $225,450.08
54 $1,315.13 $264.97 $225,185.11
55 $1,313.58 $266.51 $224,918.60
56 $1,312.03 $268.07 $224,650.53
57 $1,310.46 $269.63 $224,380.90
58 $1,308.89 $271.20 $224,109.69
59 $1,307.31 $272.79 $223,836.90
60 $1,305.72 $274.38 $223,562.53
Total of years: 5
  You will spent: $18,961.12 on your house in year 5
$15,771.60 will go towards INTEREST
$3,189.52 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
61 $1,304.11 $275.98 $223,286.55
62 $1,302.50 $277.59 $223,008.96
63 $1,300.89 $279.21 $222,729.75
64 $1,299.26 $280.84 $222,448.91
65 $1,297.62 $282.47 $222,166.44
66 $1,295.97 $284.12 $221,882.32
67 $1,294.31 $285.78 $221,596.54
68 $1,292.65 $287.45 $221,309.09
69 $1,290.97 $289.12 $221,019.97
70 $1,289.28 $290.81 $220,729.16
71 $1,287.59 $292.51 $220,436.65
72 $1,285.88 $294.21 $220,142.44
Total of years: 6
  You will spent: $18,961.12 on your house in year 6
$15,541.03 will go towards INTEREST
$3,420.09 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
73 $1,284.16 $295.93 $219,846.51
74 $1,282.44 $297.66 $219,548.85
75 $1,280.70 $299.39 $219,249.46
76 $1,278.96 $301.14 $218,948.32
77 $1,277.20 $302.89 $218,645.43
78 $1,275.43 $304.66 $218,340.77
79 $1,273.65 $306.44 $218,034.33
80 $1,271.87 $308.23 $217,726.10
81 $1,270.07 $310.02 $217,416.08
82 $1,268.26 $311.83 $217,104.24
83 $1,266.44 $313.65 $216,790.59
84 $1,264.61 $315.48 $216,475.11
Total of years: 7
  You will spent: $18,961.12 on your house in year 7
$15,293.79 will go towards INTEREST
$3,667.33 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
85 $1,262.77 $317.32 $216,157.79
86 $1,260.92 $319.17 $215,838.61
87 $1,259.06 $321.03 $215,517.58
88 $1,257.19 $322.91 $215,194.67
89 $1,255.30 $324.79 $214,869.88
90 $1,253.41 $326.69 $214,543.19
91 $1,251.50 $328.59 $214,214.60
92 $1,249.59 $330.51 $213,884.09
93 $1,247.66 $332.44 $213,551.66
94 $1,245.72 $334.38 $213,217.28
95 $1,243.77 $336.33 $212,880.96
96 $1,241.81 $338.29 $212,542.67
Total of years: 8
  You will spent: $18,961.12 on your house in year 8
$15,028.68 will go towards INTEREST
$3,932.44 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
97 $1,239.83 $340.26 $212,202.41
98 $1,237.85 $342.25 $211,860.16
99 $1,235.85 $344.24 $211,515.92
100 $1,233.84 $346.25 $211,169.67
101 $1,231.82 $348.27 $210,821.40
102 $1,229.79 $350.30 $210,471.10
103 $1,227.75 $352.35 $210,118.75
104 $1,225.69 $354.40 $209,764.35
105 $1,223.63 $356.47 $209,407.88
106 $1,221.55 $358.55 $209,049.33
107 $1,219.45 $360.64 $208,688.70
108 $1,217.35 $362.74 $208,325.95
Total of years: 9
  You will spent: $18,961.12 on your house in year 9
$14,744.41 will go towards INTEREST
$4,216.72 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
109 $1,215.23 $364.86 $207,961.09
110 $1,213.11 $366.99 $207,594.11
111 $1,210.97 $369.13 $207,224.98
112 $1,208.81 $371.28 $206,853.70
113 $1,206.65 $373.45 $206,480.25
114 $1,204.47 $375.63 $206,104.63
115 $1,202.28 $377.82 $205,726.81
116 $1,200.07 $380.02 $205,346.79
117 $1,197.86 $382.24 $204,964.55
118 $1,195.63 $384.47 $204,580.09
119 $1,193.38 $386.71 $204,193.38
120 $1,191.13 $388.97 $203,804.41
Total of years: 10
  You will spent: $18,961.12 on your house in year 10
$14,439.58 will go towards INTEREST
$4,521.54 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
121 $1,188.86 $391.23 $203,413.18
122 $1,186.58 $393.52 $203,019.66
123 $1,184.28 $395.81 $202,623.85
124 $1,181.97 $398.12 $202,225.73
125 $1,179.65 $400.44 $201,825.28
126 $1,177.31 $402.78 $201,422.50
127 $1,174.96 $405.13 $201,017.38
128 $1,172.60 $407.49 $200,609.88
129 $1,170.22 $409.87 $200,200.01
130 $1,167.83 $412.26 $199,787.75
131 $1,165.43 $414.66 $199,373.09
132 $1,163.01 $417.08 $198,956.01
Total of years: 11
  You will spent: $18,961.12 on your house in year 11
$14,112.72 will go towards INTEREST
$4,848.41 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
133 $1,160.58 $419.52 $198,536.49
134 $1,158.13 $421.96 $198,114.52
135 $1,155.67 $424.43 $197,690.10
136 $1,153.19 $426.90 $197,263.20
137 $1,150.70 $429.39 $196,833.81
138 $1,148.20 $431.90 $196,401.91
139 $1,145.68 $434.42 $195,967.49
140 $1,143.14 $436.95 $195,530.55
141 $1,140.59 $439.50 $195,091.05
142 $1,138.03 $442.06 $194,648.98
143 $1,135.45 $444.64 $194,204.34
144 $1,132.86 $447.23 $193,757.11
Total of years: 12
  You will spent: $18,961.12 on your house in year 12
$13,762.22 will go towards INTEREST
$5,198.90 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
145 $1,130.25 $449.84 $193,307.26
146 $1,127.63 $452.47 $192,854.80
147 $1,124.99 $455.11 $192,399.69
148 $1,122.33 $457.76 $191,941.93
149 $1,119.66 $460.43 $191,481.50
150 $1,116.98 $463.12 $191,018.38
151 $1,114.27 $465.82 $190,552.56
152 $1,111.56 $468.54 $190,084.02
153 $1,108.82 $471.27 $189,612.75
154 $1,106.07 $474.02 $189,138.73
155 $1,103.31 $476.78 $188,661.95
156 $1,100.53 $479.57 $188,182.38
Total of years: 13
  You will spent: $18,961.12 on your house in year 13
$13,386.40 will go towards INTEREST
$5,574.73 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
157 $1,097.73 $482.36 $187,700.02
158 $1,094.92 $485.18 $187,214.84
159 $1,092.09 $488.01 $186,726.84
160 $1,089.24 $490.85 $186,235.98
161 $1,086.38 $493.72 $185,742.27
162 $1,083.50 $496.60 $185,245.67
163 $1,080.60 $499.49 $184,746.18
164 $1,077.69 $502.41 $184,243.77
165 $1,074.76 $505.34 $183,738.43
166 $1,071.81 $508.29 $183,230.14
167 $1,068.84 $511.25 $182,718.89
168 $1,065.86 $514.23 $182,204.66
Total of years: 14
  You will spent: $18,961.12 on your house in year 14
$12,983.40 will go towards INTEREST
$5,977.72 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
169 $1,062.86 $517.23 $181,687.43
170 $1,059.84 $520.25 $181,167.18
171 $1,056.81 $523.28 $180,643.89
172 $1,053.76 $526.34 $180,117.55
173 $1,050.69 $529.41 $179,588.15
174 $1,047.60 $532.50 $179,055.65
175 $1,044.49 $535.60 $178,520.05
176 $1,041.37 $538.73 $177,981.32
177 $1,038.22 $541.87 $177,439.45
178 $1,035.06 $545.03 $176,894.42
179 $1,031.88 $548.21 $176,346.21
180 $1,028.69 $551.41 $175,794.81
Total of years: 15
  You will spent: $18,961.12 on your house in year 15
$12,551.27 will go towards INTEREST
$6,409.85 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
181 $1,025.47 $554.62 $175,240.18
182 $1,022.23 $557.86 $174,682.32
183 $1,018.98 $561.11 $174,121.21
184 $1,015.71 $564.39 $173,556.82
185 $1,012.41 $567.68 $172,989.15
186 $1,009.10 $570.99 $172,418.16
187 $1,005.77 $574.32 $171,843.84
188 $1,002.42 $577.67 $171,266.16
189 $999.05 $581.04 $170,685.12
190 $995.66 $584.43 $170,100.69
191 $992.25 $587.84 $169,512.85
192 $988.82 $591.27 $168,921.59
Total of years: 16
  You will spent: $18,961.12 on your house in year 16
$12,087.90 will go towards INTEREST
$6,873.22 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
193 $985.38 $594.72 $168,326.87
194 $981.91 $598.19 $167,728.68
195 $978.42 $601.68 $167,127.01
196 $974.91 $605.19 $166,521.82
197 $971.38 $608.72 $165,913.10
198 $967.83 $612.27 $165,300.84
199 $964.25 $615.84 $164,685.00
200 $960.66 $619.43 $164,065.57
201 $957.05 $623.04 $163,442.52
202 $953.41 $626.68 $162,815.84
203 $949.76 $630.33 $162,185.51
204 $946.08 $634.01 $161,551.50
Total of years: 17
  You will spent: $18,961.12 on your house in year 17
$11,591.03 will go towards INTEREST
$7,370.09 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
205 $942.38 $637.71 $160,913.79
206 $938.66 $641.43 $160,272.36
207 $934.92 $645.17 $159,627.19
208 $931.16 $648.93 $158,978.25
209 $927.37 $652.72 $158,325.53
210 $923.57 $656.53 $157,669.00
211 $919.74 $660.36 $157,008.65
212 $915.88 $664.21 $156,344.44
213 $912.01 $668.08 $155,676.35
214 $908.11 $671.98 $155,004.37
215 $904.19 $675.90 $154,328.47
216 $900.25 $679.84 $153,648.63
Total of years: 18
  You will spent: $18,961.12 on your house in year 18
$11,058.25 will go towards INTEREST
$7,902.87 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
217 $896.28 $683.81 $152,964.82
218 $892.29 $687.80 $152,277.02
219 $888.28 $691.81 $151,585.21
220 $884.25 $695.85 $150,889.36
221 $880.19 $699.91 $150,189.46
222 $876.11 $703.99 $149,485.47
223 $872.00 $708.09 $148,777.37
224 $867.87 $712.23 $148,065.15
225 $863.71 $716.38 $147,348.77
226 $859.53 $720.56 $146,628.21
227 $855.33 $724.76 $145,903.45
228 $851.10 $728.99 $145,174.46
Total of years: 19
  You will spent: $18,961.12 on your house in year 19
$10,486.95 will go towards INTEREST
$8,474.17 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
229 $846.85 $733.24 $144,441.21
230 $842.57 $737.52 $143,703.69
231 $838.27 $741.82 $142,961.87
232 $833.94 $746.15 $142,215.72
233 $829.59 $750.50 $141,465.22
234 $825.21 $754.88 $140,710.34
235 $820.81 $759.28 $139,951.06
236 $816.38 $763.71 $139,187.35
237 $811.93 $768.17 $138,419.18
238 $807.45 $772.65 $137,646.53
239 $802.94 $777.16 $136,869.37
240 $798.40 $781.69 $136,087.69
Total of years: 20
  You will spent: $18,961.12 on your house in year 20
$9,874.35 will go towards INTEREST
$9,086.77 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
241 $793.84 $786.25 $135,301.44
242 $789.26 $790.84 $134,510.60
243 $784.65 $795.45 $133,715.15
244 $780.01 $800.09 $132,915.07
245 $775.34 $804.76 $132,110.31
246 $770.64 $809.45 $131,300.86
247 $765.92 $814.17 $130,486.69
248 $761.17 $818.92 $129,667.77
249 $756.40 $823.70 $128,844.07
250 $751.59 $828.50 $128,015.57
251 $746.76 $833.34 $127,182.23
252 $741.90 $838.20 $126,344.03
Total of years: 21
  You will spent: $18,961.12 on your house in year 21
$9,217.47 will go towards INTEREST
$9,743.65 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
253 $737.01 $843.09 $125,500.95
254 $732.09 $848.00 $124,652.94
255 $727.14 $852.95 $123,799.99
256 $722.17 $857.93 $122,942.06
257 $717.16 $862.93 $122,079.13
258 $712.13 $867.97 $121,211.17
259 $707.07 $873.03 $120,338.14
260 $701.97 $878.12 $119,460.02
261 $696.85 $883.24 $118,576.77
262 $691.70 $888.40 $117,688.38
263 $686.52 $893.58 $116,794.80
264 $681.30 $898.79 $115,896.01
Total of years: 22
  You will spent: $18,961.12 on your house in year 22
$8,513.10 will go towards INTEREST
$10,448.02 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
265 $676.06 $904.03 $114,991.98
266 $670.79 $909.31 $114,082.67
267 $665.48 $914.61 $113,168.06
268 $660.15 $919.95 $112,248.11
269 $654.78 $925.31 $111,322.80
270 $649.38 $930.71 $110,392.09
271 $643.95 $936.14 $109,455.95
272 $638.49 $941.60 $108,514.35
273 $633.00 $947.09 $107,567.26
274 $627.48 $952.62 $106,614.64
275 $621.92 $958.17 $105,656.46
276 $616.33 $963.76 $104,692.70
Total of years: 23
  You will spent: $18,961.12 on your house in year 23
$7,757.81 will go towards INTEREST
$11,203.31 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
277 $610.71 $969.39 $103,723.31
278 $605.05 $975.04 $102,748.27
279 $599.36 $980.73 $101,767.55
280 $593.64 $986.45 $100,781.10
281 $587.89 $992.20 $99,788.89
282 $582.10 $997.99 $98,790.90
283 $576.28 $1,003.81 $97,787.09
284 $570.42 $1,009.67 $96,777.42
285 $564.53 $1,015.56 $95,761.86
286 $558.61 $1,021.48 $94,740.38
287 $552.65 $1,027.44 $93,712.94
288 $546.66 $1,033.43 $92,679.50
Total of years: 24
  You will spent: $18,961.12 on your house in year 24
$6,947.92 will go towards INTEREST
$12,013.20 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
289 $540.63 $1,039.46 $91,640.04
290 $534.57 $1,045.53 $90,594.51
291 $528.47 $1,051.63 $89,542.89
292 $522.33 $1,057.76 $88,485.13
293 $516.16 $1,063.93 $87,421.20
294 $509.96 $1,070.14 $86,351.06
295 $503.71 $1,076.38 $85,274.68
296 $497.44 $1,082.66 $84,192.02
297 $491.12 $1,088.97 $83,103.05
298 $484.77 $1,095.33 $82,007.72
299 $478.38 $1,101.72 $80,906.01
300 $471.95 $1,108.14 $79,797.87
Total of years: 25
  You will spent: $18,961.12 on your house in year 25
$6,079.49 will go towards INTEREST
$12,881.63 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
301 $465.49 $1,114.61 $78,683.26
302 $458.99 $1,121.11 $77,562.15
303 $452.45 $1,127.65 $76,434.51
304 $445.87 $1,134.23 $75,300.28
305 $439.25 $1,140.84 $74,159.44
306 $432.60 $1,147.50 $73,011.94
307 $425.90 $1,154.19 $71,857.75
308 $419.17 $1,160.92 $70,696.83
309 $412.40 $1,167.70 $69,529.13
310 $405.59 $1,174.51 $68,354.63
311 $398.74 $1,181.36 $67,173.27
312 $391.84 $1,188.25 $65,985.02
Total of years: 26
  You will spent: $18,961.12 on your house in year 26
$5,148.27 will go towards INTEREST
$13,812.85 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
313 $384.91 $1,195.18 $64,789.84
314 $377.94 $1,202.15 $63,587.69
315 $370.93 $1,209.17 $62,378.52
316 $363.87 $1,216.22 $61,162.30
317 $356.78 $1,223.31 $59,938.99
318 $349.64 $1,230.45 $58,708.54
319 $342.47 $1,237.63 $57,470.91
320 $335.25 $1,244.85 $56,226.07
321 $327.99 $1,252.11 $54,973.96
322 $320.68 $1,259.41 $53,714.55
323 $313.33 $1,266.76 $52,447.79
324 $305.95 $1,274.15 $51,173.64
Total of years: 27
  You will spent: $18,961.12 on your house in year 27
$4,149.74 will go towards INTEREST
$14,811.38 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
325 $298.51 $1,281.58 $49,892.06
326 $291.04 $1,289.06 $48,603.00
327 $283.52 $1,296.58 $47,306.43
328 $275.95 $1,304.14 $46,002.29
329 $268.35 $1,311.75 $44,690.54
330 $260.69 $1,319.40 $43,371.14
331 $253.00 $1,327.10 $42,044.05
332 $245.26 $1,334.84 $40,709.21
333 $237.47 $1,342.62 $39,366.59
334 $229.64 $1,350.45 $38,016.13
335 $221.76 $1,358.33 $36,657.80
336 $213.84 $1,366.26 $35,291.54
Total of years: 28
  You will spent: $18,961.12 on your house in year 28
$3,079.03 will go towards INTEREST
$15,882.10 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
337 $205.87 $1,374.23 $33,917.32
338 $197.85 $1,382.24 $32,535.08
339 $189.79 $1,390.31 $31,144.77
340 $181.68 $1,398.42 $29,746.35
341 $173.52 $1,406.57 $28,339.78
342 $165.32 $1,414.78 $26,925.00
343 $157.06 $1,423.03 $25,501.97
344 $148.76 $1,431.33 $24,070.64
345 $140.41 $1,439.68 $22,630.96
346 $132.01 $1,448.08 $21,182.88
347 $123.57 $1,456.53 $19,726.35
348 $115.07 $1,465.02 $18,261.33
Total of years: 29
  You will spent: $18,961.12 on your house in year 29
$1,930.91 will go towards INTEREST
$17,030.21 will go towards PRINCIPAL
 
Month: Interest Paid: Principal paid: Remaining balance:
349 $106.52 $1,473.57 $16,787.76
350 $97.93 $1,482.16 $15,305.60
351 $89.28 $1,490.81 $13,814.78
352 $80.59 $1,499.51 $12,315.28
353 $71.84 $1,508.25 $10,807.02
354 $63.04 $1,517.05 $9,289.97
355 $54.19 $1,525.90 $7,764.07
356 $45.29 $1,534.80 $6,229.27
357 $36.34 $1,543.76 $4,685.51
358 $27.33 $1,552.76 $3,132.75
359 $18.27 $1,561.82 $1,570.93
360 $9.16 $1,570.93 $0.00
Total of years: 30
  You will spent: $18,961.12 on your house in year 30
$699.79 will go towards INTEREST
$18,261.33 will go towards PRINCIPAL
 

The results obtained on this page does not represent an offer, neither mortgage aprobation or payment.