# A 13th Mortgage Payment Each Year Cuts Years Off – Mark It Principal-Only

- Source: Money Crashers
- Published: 2026-10-19T00:45:00+00:00
- Category: Local
- Original: https://www.moneycrashers.com/extra-mortgage-payment/
- Canonical: https://groundlevelnews.com/story/a-13th-mortgage-payment-each-year-cuts-years-off-mark-it-principal-onl-b719e6/

Early in a mortgage, the scheduled payment barely reduces what you owe. On a $300,000, 30-year loan at 7%, $1,750 of the first $1,996 payment is interest, and interest outweighs principal in every payment for the first 20 years. An... Source

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