If you can afford it I highly recommend paying extra on your mortgage to pay it off faster.
I created the table below to illustrate the savings.
This is based on a 30 year $100,000 mortgage at 4% interest.
| Extra Payment Monthly | Years Saved Off Mortgage |
| 0 | 0 |
| 50 | 5 Years |
| 100 | 8.5 Years |
| 150 | 11.08 Years |
| 200 | 13.08 Years |
| 250 | 14.6 Years |
If you would like to see how much an extra payment would affect your mortgage just call our office or email us and give us your numbers on your mortgage. …We’ll be happy to help you!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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