you're usually fixed to a specific payment during that 5 year term. you can't pay it faster without paying a penalty. the bank expects their profit of X and b

you're usually fixed to a specific payment during that 5 year term. you can't pay it faster without paying a penalty. the bank expects their profit of X and by God they're going to get it. during the re-up you can throw down extra money, but that's because it's an open contract, essentially.