Life In Queen City » Why It Feels Like Your Mortgage Payment Is All Interest And No Principal

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Why It Feels Like Your Mortgage Payment Is All Interest And No Principal

Posted by Dan Green on 14 April 2008
Filed Under: Mortgage Insight

The amortization schedule of a 30-year fixed rate mortgage

It takes 18.5 years for the principal portion of your mortgage to outweigh the interest portion.

For some perspective: If you took a new, 30-year fixed mortgage when the Reds last won the World Series, you’d still be to the left of that arrow for another 11 months.