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

Source: Money Crashers · Oct 19, 2026 00:45 UTC

Aerial view of suburban homes and tree-lined streets near Pittsburgh — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

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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