How long do i left on my mortgage ?

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Post Posted: Wed Sep 03, 2008 11:30 am    Post subject: How long do i left on my mortgage ?

I took out a 15 year fix about 6 years ago. (150,000 @ 5.3%). Current balance is 90,700.
Currently I am paying 1750 ( 743 to principal, 411 to interest, 596 taxes)
In addition to this I pay 450.00 per month extra to principal.
When will this note be paid off?

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Icon Mini Profile kathybailey

Joined: 03 Sep 2008

Posts: 2

1.97 Dollars($)
Post Posted: Wed Sep 03, 2008 2:45 pm    Post subject:

I think you would have around 5 to 5.5 years left if you keep sending in additional $450 a month, according to the mortgage repayment calculator on web site. Seems like it should be shorter than this, but that is what the calculator says when I input your beginning loan amount, loan term and interest rate, as well as the additional princ payment each month.
K. Bailey
Home Mortgage Consultant
MidAmerican Home Services Mortgage,
an affiliate of Wells Fargo Home Mortgage

This is my opinion based on my experiences as a mortgage consultant and is NOT intended to be legal advice or to take the place of legal advice.
Icon Mini Profile Caron

Joined: 19 Jul 2005

Posts: 1516
Location: florida
279.74 Dollars($)
Post Posted: Thu Sep 04, 2008 6:28 am    Post subject:

Hi cough and kathybailey,

Welcome to our forums.

To cough: You can use the Mortgage Payoff Calculator to find out how soon you can pay off the loan by making extra payments.

To Kaithy: It's good to have you amongst us. Hope you'll enjoy participating here. Feel free to tell us more about you at .

Good luck

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Post Posted: Sun Mar 06, 2011 6:50 am    Post subject: how many years do I have on my morgage

My princepole left is 144,00000. rate 5%.Monthly payment is 2,100.00
Icon Mini Profile adonis

Joined: 22 Oct 2005

Posts: 12177
Location: ALASKA
1313.62 Dollars($)
Post Posted: Sun Mar 06, 2011 11:15 pm    Post subject:

Welcome Tina,

You can take help of the given calculator in order to find out how many years you'll require to pay off the loan:

Procrastination is the enemy of your financial success
Icon Mini Profile jveenstra
Community Expert
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Joined: 10 Nov 2008

Posts: 1478
Location: River Edge, NJ 07661
31.04 Dollars($)
Post Posted: Mon Mar 07, 2011 11:19 am    Post subject: Pay Off

A $90,700 mortgage at 5.3% and you voluntarily paying $1,604 a month in principal and interest would pay off in 66 months.

It is difficult to be exact because the numbers you provided are not exact, or, at least a little confusing.
If you started at $150,000 mortgage balance for 15 years at 5.3%, the monthly required principal and interest payment would be $1,209.76. Yet, you indicate your monthly P&I is 743 plus 411 which is $1,154.
That $1,154 is LESS than your required payment.
That is not possible.
That makes your numbers incorrect someplace and makes any calculation we do as to pay off suspect.

John Veenstra, Mortgage Banker
Approved Funding Corp.
41 Grand Avenue
River Edge, NJ 07661
W: 201-833-0123
NMLS ID 178140
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