when paying off a mortgage, how do the repayments change as you pay it off?

Question

Do you just pay the same amount for say a 25 year term give or take interest rates?

In: 0

Answer 1

No, it can change. Usually you pay the same amount, but from this amount you pay more interest in the beginning and less when you’re almost done. When the interest rate goes higher, your bank might make you pay more.