If you have a fixed-rate mortgage, your interest rate will not change during the life of the loan. As a result, your principal and interest payment will remain stable. u003cbr/u003eu003cbr/u003eNote, the ratio of principal to interest u003cemu003ewithinu003c/emu003e your Pu0026amp;I payment will change over time, with a larger share of the payment going toward interest early on and more of it going to the loan principal later. This is known as an ‘amortization schedule.’ But despite the ratios of principal and interest fluctuating, the amount you pay each month will remain the same. u003cbr/u003eu003cbr/u003eIf you have an adjustable-rate mortgage (ARM) your interest rate and monthly Pu0026amp;I payment are subject to change each year after the initial fixed-rate period expires, usually three to seven years after your loan term begins.