Results: How much do you know about mortgage loans?

Do you know what an Amortization Schedule/Calculator is?

Are you aware that banks who provide mortgage loans do not want consumers to know or understand what an Amortization Schedule is?

An Amortization Schedule shows the consumer how much total interest is being paid over the lifetime of the loan. On a standard 30 year (360 monthly payments) loan, much more interest is paid in the beginning of the loan and very little interest is paid towards the end of the loan. For this reason, consumers should strive to make extra payments towards principal in the first 5 years of their mortgage to help save in interest. Were you aware of this?