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It Takes 18.5 Years To Pay More Principal Than Interest With An Amortizing Mortgage

Posted on April 14, 2008
Filed under Amortization Schedules
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Amortization schedule for a 30-year fixed rate mortgage, principal and interest repayments

During the first few years with an amortizing home loan (i.e. principal + interest), homeowners often feel like their entire monthly payment is going towards interest.

Well, not all of it goes towards interest, the graph tells us.  Just most of it.

If you're in the early years of mortgage, though, and want to accelerate your "break-even" date to before Year 18, there are several ways to do it:

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