How do I pay down the mortgage principal on a 20-year loan?

Answer Pay down the principal of your mortgage with each monthly payment. Additional payments will help to reduce the principal further. With each extra monthly payment paid per year on a 20-year mortgage... Read More »

Top Q&A For: How do I pay down the mortgage principal on a 2...

Why does principal& interest vary over the period of a mortgage loan?

Principal and interest amounts vary during the course of a mortgage loan because a mortgage is front-loaded with interest, meaning the first installment payment includes the most interest, and the ... Read More »

How can I pay off a 30 year mortgage loan in 15 years?

In the landscape of personal finance, your mortgage may loom as the largest mountain to climb. The path to financial freedom makes eliminating the biggest debts a top priority. The strategy for an ... Read More »

Can I Put an Extra Loan Payment to the Principal of a Personal Loan?

You will have a minimum monthly payment amount on any personal loan. You must always repay at least this minimum amount, but you may choose to pay additional money to further reduce your principal-... Read More »

Can i put an extra loan payment to the principal of a personal loan?

On One Hand: Make Extra Payment To PrincipleUsually you can pay extra money on the principle of a personal loan. The extra payment will reduce the interest you pay over the life of the loan because... Read More »