How much are the Interest and Principal amounts monthly?
Did you know that monthly mortgage payment amounts are not applied to the principal and interest equally? That’s right, each month the amount applied to the interest is different than the amount applied to the principal. In the beginning, the interest amount is higher than the principal. With time these ratios change. Wonder what your amortization schedule would look like? By entering your mortgage amount, interest, and loan length into our amortization calculator to see your schedule.