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Posts: 157
In response to
"
but by reducing the principle, you're getting that 6% over the entire remaining period of your mortgage. -- nm
"
by
znufrii
for example: if you pay down the pinciple by $10,000, you can save up to $40,000 in interest payments over the life of a 30-year mortgage
Posted by
znufrii
Dec 1 '08, 10:47
as well as paying it off 3.5 years sooner.
Responses:
(this is if you make the extra principal payment at the beginning of the loan, and still keep your monthly payments as they were) -- nm
-
znufrii
Dec 1, 10:48
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