Mortgage question?

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I bought my first house in 05'.. I've been trying to look online to see how long i have to keep paying my mortgage just to pay huge amounts of interest on my loan.. Does anyone know how many years most of my mortgage just goes to interest and not principal? I thought it was around 2-3 years.. Thanks for the help!

Mortgage question?

Get an amortization graph...you can get them on line...just fill in the data..or you bank or lending instution can do it for you...real simple.

Mortgage question?

You will pay interest until you have the loan completely paid off. if you want to pay less interest over the life of your mortgage, you should put extra to principal since that's how banks determine the amount of interest that you pay.

if you have a 30 year mortgage, your interest and principal won't be the same until year 22-23.

Mortgage question?

depends on the type of loan.. flat out..

Mortgage question?

If you are good with Microsoft Excel you can work this out fairly accurately. Including adding differences like paying more or less on the morgage.

Mortgage question?

If you have a 30 year loan, you will pay interest for 30 years, but you will pay less interest and more to reduce principal each month. Ask you lender to give you an amortization schedule for your loan so you can see what the numbers look like.

Mortgage question?

we pay an extra $150.00 every month which pay our 30 year fixed off in 17 1/2 years

Mortgage question?

type in your info and then click on 'show/calculate amortization table'. You will see how much principle is going towards your balace every month as the years go by

Mortgage question?

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