At MOG we are living in unprecedented times. Thank you for taking Covid-19 seriously. The sacrifices you're making during this time canceling gatherings and social disctancing are working keep it up...

Why Are Mortgage Payments Mostly Interest?

Mortgage Q&A: “Why are mortgage payments mostly interest?” Here’s an interesting mortgage question – pun intended. Payment Composition Over Time Most homeowners take out fixed-rate mortgages With monthly payments that don’t change over 30 years While the mortgage payment stays the same The amount that is allocated to principal and interest changes monthly The way [&hellip
Source: Mortgage