You pay almost all interest in the first few years otherwise. It's the same as minimum payments on credit cards.When it comes to using a credit card, you have rights and responsibilities under the law, including your right to dispute billing errors. Making extra mortgage payments can help pay off your mortgage early and save money on interest. Does prepaying make sense? The notice will provide the tax type from which the overpayment originated and tax type to which it is being applied. How can I make a payment? Overpay is misleading. You can pay your mortgage and if given the option, pay additional funds directly toward the principle.