Most of your early mortgage payments go toward interest—not principal—so understanding your amortiza

We owe $320,000 on our mortgage. And if I think about that for too long, I will throw up because the amount of money that we are losing to interest on a monthly basis is astronomical. We owe $320,000 with 6% interest over 30 years, which works out to about $1,900 a month split between principal and interest. But when you actually look at the breakdown, $300 is going toward principal, and $1,600 is going toward interest every single month. — Yeah. So, it is true. Most homeowners don't actually look at their amortization schedule on their mortgage. And you'll be shocked to find out that in the first 5 to 10 years of your mortgage, vast majority of your mortgage payment goes towards interest. And so if you have an interest rate anywhere between 5 to 7%, you might be closer to paying nearly 100% total interest percentage. So, if you borrowed $300,000, you may end up paying back a total of $600,000 worth of payments.