What Will It Take To Pay Off Our Mortgage Early?

February 17th, 2010 admin

In a few weeks, we will make our first mortgage payment.  Our mortgage is a fixed-rate 15 year mortgage .  Obviously, I’m not a fan of debt – and I’m going to work very, very hard to pay our mortgage off early.  Using a mortgage calculator I calculated the following the scenarios for paying the mortgage off early – 15 years and zero months = mortgage payment + $0 extra per month 12 years and 3 months = mortgage payment + $250 extra per month 9 years and 3 months = mortgage payment + $500 extra per month 7 years and 9 months = mortgage payment + $750 extra per month 6 years and 8 months = mortgage payment + $1000 extra per month 5 years and 10 months …


Originally posted on NCN Blog

 
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