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| Topic | What's the justification for paying (Mortgage) interest up front? |
| Bartzyx 04/01/21 12:20:43 PM #5: | It's the result of amortizing the loan over a period of 30 years. In order to make the payments the same every month, you will not have much money left to pay principal at first. If you want to pay more principal than interest from the start, you would have to reduce the term of the loan to less than 15 years (depending on the interest rate, more or less), which is not a financially feasible solution for most borrowers. Especially on a VA loan which may not require a down payment. Remember, you borrowed tens (or hundreds) of thousands of dollars. Interest is going to be a bitch. --- At least your mother tipped well ... Copied to Clipboard! |
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