Does my mortgage payment change if I make a LARGE payment?

Only on Interest-Only ARMS. If this is not what you have it will only lower your principal balance.Happy funding, Rudi

Adding a lump sum payment will not lower your payment. If you want a lower payment, you would have to refinance. I will tell you that using your home as a savings account is not sound financial advice. Remember... CASH IS KING... if you pay 75K towards your mortgage, and 1 year from now you have a hardship and are unable to make the payments, the lender can still foreclose regardless of how much equity you have... you're better off putting that money to work in a savings / stocks / funds account. If you get to where your loan balance is 75K or less, and you choose to pay off your loan, then so be it... But by applying it to principal makes that money vulnerable... WilliamAcres.com

An additional large one time payment will not do anything to change the future payments on a standard loan (30-yr fixed) if you just send it in to the bank. If you'd like to send in a large payment AND actually lower the payment, THIS IS POSSIBLE WITHOUT REFINANCING. Simply call the bank and tell them what you want to do. You will have to sign a few papers, and pay a small fee (around $200). That is the ONLY way to send in a big one time extra principal AND get a lower payment!