Real EstateMortgages
Interest Comes First
Early payments are mostly interest
Pay a mortgage faithfully for ten years and you can still owe most of it. Where did all that money go?
You'll find out
- How much of a first payment is interest
- When the loan finally starts to shrink
- The old word for killing a debt
Why it matters
Most homeowners pay for decades without seeing this schedule. Once you see it, every statement reads differently.
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