How much of my monthly payment is considered interest?

How much of my monthly payment is considered interest?

Ron Goodlin (Mortgage Banker and Broker, The Goodlin Group) gives expert video advice on: Will lenders look at my bank accounts?; What can I do if I am rejected for a mortgage loan?; How much of my monthly payment is considered interest? and more...

Usually for the first five years upon obtaining that mortgage, a very small amount will be applied towards the reduction of balance on your monthly payment. The majority of money is going to the interest payment for the first four to five years.