*Question by shinypearl36*: 5year fixed rate refinanced mortgage, must it pay an interest?

my mortgage term is 25 years. for the first 5 years I’ve payed what I belive is mostly interest.

now, when I refinance do I also have to pay most of the interest within the first 5 years?

**Best answer:**

*Answer by financing_loans*

you will just need to refinace your current principal balance. Get a payoff, what the current payoff is will be what you refinance.

There is not such thing as back interest, unless you took one of those interest only freaky loans. Or a neg am loan. Just get your payoff. Im sure you are fine.

**What do you think? Answer below!**

If you refinanced for another 25 years, then yes you will again be paying mostly interest. Google amortization tables – there are lots of them. You just plug in the amount of your mortgage, the number of years, the payment frequency (monthly, biweekly, etc) and the interest rate. You can then print out a payment table that will tell you exactly how much principal and interest you will be paying in each payment. This is why extra payments especially early in the term of the mortgage make such a big difference.