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re: Do you pay extra on your Mortgage every month?
Posted on 9/24/18 at 1:58 pm to Brobocop
Posted on 9/24/18 at 1:58 pm to Brobocop
According to the Internet, you can save the following time/amount on a $200K loan at 4% by paying extra each month. I’d say it all depends on what other debt you have outstanding and how much you have in your emergency fund.
Extra payment $100
Time shaved off loan 4 years, 11 months
Interest payment saved $26,854
Extra payment $200
Time shaved off loan 8 years, 5 months
Interest payment saved $44,929
Extra payment $300
Time shaved off loan 11 years
Interest payment saved $58,009
Extra payment $100
Time shaved off loan 4 years, 11 months
Interest payment saved $26,854
Extra payment $200
Time shaved off loan 8 years, 5 months
Interest payment saved $44,929
Extra payment $300
Time shaved off loan 11 years
Interest payment saved $58,009
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