Does it seem like your mortgage is never going down? That's because most of your mortgage payments the first few months go towards your interest, not your principle. It is called amortization. Your interest rate plays a big role in how much you pay every month. Find out when you'll be able to pay off your loan with this calculator: https://www.moneyunder30.com/loan-payoff-calculator #mortgage #mortgagepayment #amortization #interestrates #mortgagerates