When payments are made on amortized mortgage loans, the debt service includes

Interest-only payments do not reduce the principal amount of the loan, meaning that the borrower will not make any progress in paying down their debt. This option ignores the essential aspect of amortization, which is to gradually pay off the loan's principal.

Repaying principal alone does not account for the interest costs associated with the loan. A borrower must make both principal and interest payments to satisfy the terms of an amortized loan, as simply paying down the principal will not fulfill the obligation to the lender.

Payment of principal alone fails to include the interest component, which is crucial in an amortized mortgage. Without covering interest, the loan would not be reduced as intended, and the borrower would still owe significant amounts.

While taxes and insurance are often included in monthly mortgage payments, they are not part of the debt service itself. Debt service specifically refers to the payments made towards the loan's principal and interest, not additional costs associated with homeownership.