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How to or how long will it take too..........?
I guess I should phase my questions as this: I am trying to figure out if I owe 84,000.00 on my mortage and I financed it for 20 years at 8.25% and I have been paying for just 2 years now, I am planning on sending a extra 500.00 a month towards the principal, how fast would I be able to pay it off? I am guessing I would have it paid off in 10 years, is that accurate? Thank you in advance for helping me with this.
3 Answers
- Kevin CLv 51 decade agoFavorite Answer
go here, http://www.texaslending.com/calculators/MortgagePa...
you can put in all your information and it will tell you how much time you will save and how much money.
but you are looking at about 10 years off your mortgage and saving about 40,000 dollars. Also, with the interest rates as low as they are, have you looked at refinancing?
- Anonymous1 decade ago
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Source(s): Go to: www.makingmoney1021.blogspot.com - Anonymous1 decade ago
10 years is a real close estimate. LOL.