Not neccessarily,your Payment may go up. Because of a rise in property taxes, increased insurance cost, etc., our payment is now about $1000. When we first bought the house 15 years ago, it was $665.
That’s on a fixed 6% loan. Our property taxes along with all other costs of living have sky rocketed in my area where we can’t even get by on 3 jobs between 2 people anymore. Cathy http://www.cathyscreations.com
//Typically, a mortgage will go down the longer you are in it.//