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Post Statistics: 323 Views, 1 Replies
Latest Post: Thu, Oct 29 2009 3:44 PM by Harlan Cooper
  • Wed, Oct 28 2009 3:31 PM
    • Anonymous
    Save Money on Mortgage Interest Making Extra Payments
    How many years can I save on my mortgage if I pay 2 additional payments on my mortgage yearly(principle only). I owe approx 49,000
     
  • Thu, Oct 29 2009 3:44 PM

    Not enough information to calculate. To answer this question one would need to know, besides the balance of $49,000, the interest rate (and is it fixed?), the current P&I (not including taxes and insurance), the additional amount you intend to pay and the frequency of the extra amount (every 6 months?).

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