Not sure what country you’re from but FYI the vast majority of traditional American mortgages do not accrue interest monthly at this time. Most often, at the point the mortgage is closed, the entire payment schedule including principal and interest is dictated at that time. You’re paying off more principal and less interest every month.
Saredam t1_ixxvyvb wrote
Reply to comment by tth2o in Delayed Mortgage Monthly Payment at WF by gundamstar1
Not sure what country you’re from but FYI the vast majority of traditional American mortgages do not accrue interest monthly at this time. Most often, at the point the mortgage is closed, the entire payment schedule including principal and interest is dictated at that time. You’re paying off more principal and less interest every month.