The majority of mortgage payments are what they call blended payments, which carry two components, Principal along with Interest. When you begin paying your mortgage, a large part of your payment are applied to the Interest. Over time the Principal balance of your mortgage decreases, which means the among you pay towards Interest decreases as well. That said, the portion of your payment that goes towards the Interest will decrease over time, and the amount that goes toward the Principal increases over time. This is why Privilege Payment Options make such a big difference when it comes to your mortgage. Privilege Payments go directly to your Principal, whereas your usual mortgage payments do not. It’s important to look beyond the Interest Rate of your mortgage and work with a Mortgage Agent, like myself, who will explain the nuances of your mortgage and devise a payment strategy so you can achieve mortgage freedom sooner.