Fixed Payment (Equal): Same monthly payment throughout the loan term. Early payments consist mostly of interest. Higher total interest. Good for stable income earners.
Principal Reducing: Fixed principal portion each month. Payment decreases over time. Lower total interest. Good for those with higher initial income.
Increase your down payment (lower loan amount), choose a shorter loan term, shop for lower interest rates, and consider making extra principal payments when possible.
Early repayment saves more interest in the early years of a loan, especially for fixed-payment mortgages where early payments are mostly interest. Generally, the earlier you pay extra, the more you save.