Well, we all know that if you pay extra on your mortage payment every month or even every week, you will save a lot of money on interest charges. I just found a handy calculator where you can find out how much you have to pay per month if you want the mortage paid off in a certain time period.
For example: A $200,000 mortage at 7% interest is 1330.60 a month for 30 years.
If you want to pay it off in 20 years, you can pay 1553.58 per month.
Doing that will save you tens of thousands of dollars in interest as well.
Save by paying off your mortgage early
For example: A $200,000 mortage at 7% interest is 1330.60 a month for 30 years.
If you want to pay it off in 20 years, you can pay 1553.58 per month.
Doing that will save you tens of thousands of dollars in interest as well.
Save by paying off your mortgage early