Less than 20% of my mortgage payment goes to the principal right now. Anything extra I put in goes straight to the principal, though. I put in an extra $80 on this first payment and I saved myself about $360 in interest! I may not be able to do that every month, but if I throw in something extra when I can, it can really make a big difference. Of course, I'm not likely to be there for 30 years or even 20, but paying extra early on means I build up equity quicker, which means that when I buy my next house, I'll have more money from the sale of this house to put towards the new one. Boring stuff, I know, but I'm a compulsive budgeter, what can I say? :)
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