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re: Another question regarding paying down your mortgage...

Posted on 10/5/12 at 9:37 am to
Posted by OnTheBrink
TN
Member since Mar 2012
5418 posts
Posted on 10/5/12 at 9:37 am to
quote:

Does that $1100 include taxes and insurance payments?


Yes. I am only paying about $230 in principal now, per $1,100 mortgage payment.

My point was the extra $1,000 I put toward the principal knocked off 4 months in payments, seeing as how I am still early in my loan, saving $4,400 over the next 30 years.

quote:

TheHiddenFlask


Yeah, count me in those who miss that point. I have a hard time understanding inflation/deflation.
Posted by jguidroz
South Louisiana
Member since Sep 2006
1650 posts
Posted on 10/5/12 at 11:35 am to
quote:

My point was the extra $1,000 I put toward the principal knocked off 4 months in payments, seeing as how I am still early in my loan, saving $4,400 over the next 30 years.


No, just no.

Open Excel and play with the mortgage calculator template.

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