If you pay an extra $100 per month on your mortgage, your total loan principal will decrease and your total interest will remain the same.

Name: If you pay an extra $100 per month on your mortgage, your total loan principal will decrease and your total interest will remain the same.
Brand: Quizplus
Rating: 4.9 (51 reviews)

Question

Quizplus · Accepted Answer

Paying extra on your mortgage reduces the principal balance faster, which in turn reduces the total amount of interest you pay over the life of the loan.

If You Pay an Extra $100 Per Month on Your