Okay, mass confusion on my end. We bought a house last year but have been aggressively paying more than the monthly payment to pay down our principal. I always thought the interest number was fixed and if you paid additional to principal it would just bring down the overall number owed without adjusting interest. My husband said that since we are overpaying, the divide between interest and principal will shift (and has already!) and interest will shrink. I thought this only happened with a refinance but looked at our mortgage account this morning and he's right. So guys, is this standard??
Submitted November 26, 2018 at 09:23AM by pregaftertwobeans https://ift.tt/2r4rR67
