paying down a 30 yr fixed mortgage

[Rich Hupper]

Hello I know that these loans have predetermined payment schedules for every month of the 30 yr note. My question is what if I make a large principle payment? Will the large principle payment allow my next regular payment contribute more money to principal than interest? Or do principal payment not affect the payment schedule?

[Steve Vaughan]

Quote from @Rich Hupper:

Hello I know that these loans have predetermined payment schedules for every month of the 30 yr note. My question is what if I make a large principle payment? Will the large principle payment allow my next regular payment contribute more money to principal than interest? Or do principal payment not affect the payment schedule?

Yes. Interest is calculated on the balance monthly.  A large principal payment will reduce the balance. 

Future payments will apply less to interest, more to principal.