I ran the numbers on my house mortgage today. Right now the balance is at $35,960, which means if I were to make no extra payments, just regular payments, I would have just under 11 years and 7 months worth of payments to make.
Of course, I always pay an extra $24.14 each month for a grand total of $400 each month. So I know it will be less. I wish I could find an amortization calculator that would show the difference of making that extra principal payment each month. I'd like to know just how much sooner it will be paid off.
My House Mortgage
October 17th, 2006 at 01:58 am
I live, write, and garden in the PNW with my husband of 30 years, disabled daughter, autistic son, and my 85-year-old mother. We have paid off $250,000.00 worth of debt (if you include the interest) in the last fifteen years and as of 6/12/2020 are 100% DEBT FREE!!!!
October 17th, 2006 at 08:02 pm 1161115357
http://allthingsfinancialblog.com/Calculators/LoanBalanceCalculator.htm