---

Adding additional principle payment to our mortgage

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
bill.jueschke@msn.com Guest	Posted: Fri Nov 26, 2010 3:06 pm    Post subject: Adding additional principle payment to our mortgage Like 0 Dislike 0 We crrently have a 15 yr fixed mortgage in the amount of $150,000. Our monthly payment is $1090.83. We can afford to add $800 more per month on our principle. If we did this how soon would the mortgage be paid off? Bill from Utah
jerry Moderator Joined: 17 Oct 2005 Posts: 2708 Location: MICHIGAN 429.63 Dollars($)	Posted: Mon Nov 29, 2010 1:40 am    Post subject: Like 0 Dislike 0 Hi bill, You haven't mentioned the balance mortgage amount and your mortgage interest rate. So, I used $150,000 as your balance amount and your mortgage interest rate to be 5%. If you add $800 to your payments, you will be pay off your dues within 108 months i.e 9 years. You can use the given calculator to calculate it yourself: http://www.mortgagefit.com/calculators/extra-payment.html Thanks, Jerry

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0