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Updated over 7 years ago,
Quick amortization question
Hello Biggerpockets,
I have a quick amortization payment. I recently refinanced my home and noticed that with every monthly payment I make and additional 99 cents goes towards the principal instead of the interest. Is this due to time or principal balance? In other words, if I gave an additional $10k right now would my interest payment still only drop by 99 cents in next month's bill?