sˈɪns ɪnðɪ ˈɜːli jˈɪɹz ʌvðə mˈɔːɹɡɪdʒ ðɪ ʌnpˈeɪd pɹˈɪnsɪpəl ɪz stˈɪl lˈɑːɹdʒ, sˌoʊ ɑːɹ ðɪ ˈɪntɹɛst pˈeɪmənts ˈɔn ɪt; sˌoʊ ðə pˈoːɹʃən ʌvðə mˈʌnθli pˈeɪmənt ɡˌoʊɪŋ təwˈɔːɹd pˈeɪɪŋ dˌaʊn ðə pɹˈɪnsɪpəl ɪz vˈɛɹi smˈɔːl ænd ˈɛkwᵻɾi ɪnðə pɹˈɑːpɚɾi ɐkjˈuːmjʊlˌeɪts vˈɛɹi slˈoʊli ɪnðɪ ˈæbsəns ʌv tʃˈeɪndʒᵻz ɪnðə mˈɑːɹkɪt vˈæljuː ʌvðə pɹˈɑːpɚɾi.
Since in the early years of the mortgage the unpaid principal is still large, so are the interest payments on it; so the portion of the monthly payment going toward paying down the principal is very small and equity in the property accumulates very slowly (in the absence of changes in the market value of the property).