So if I have a 500k loan balance, 2 years into a 20 year fixed loan…and I say pay 400k in a lump sum principal payment how does that effect my monthly payment….specifically will it change the amount of interest each month or does it just stick to the original amortization schedule and have the payments still contain pretty high interest amounts….obviously it will be paid off sooner…..I’m tempted to just pay it all off if that is the case to avoid the interest heavy payments that are in the early years of the loan…
