I have no idea what the fuck I am reading. You borrow amount X at rate Y and pay back in Z months. You pay interest on your outstanding principal. There isn't interest that accumulates month over month. I haven't had a mortgage with a prepayment penalty but I also haven't had a mortgage above 4% either.
I have no idea what the fuck I am reading. You borrow amount X at rate Y and pay back in Z months. You pay interest on your outstanding principal. There isn't interest that accumulates month over month. I haven't had a mortgage with a prepayment penalty but I also haven't had a mortgage above 4% either.
(post is archived)