Re: FHA Rules to change around March 31st on Mortgage Insurance!
01-21-2013 07:16 AM
Even fixed rate loans are amortized - which means while you're payment doesn't change, the amount applied to interest vs principle changes with every payment. In the beginning, much more is going toward interest than principle. There are amortization calculators that will give you an estimate of how your monthly payment is applied every payment or year, that should give you a better illustration.
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