How much of my monthly payment is considered principal?

How much of my monthly payment is considered principal?

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...

For the first five years, in a 3-year amortisation loan, the majority of your monthly payment is going to interest, to pay off the bank. Over a longer period of time, you'll start to see a much larger reduction in your principal payment.