This is the standard minimum monthly payment.
Two equal payments each month, exactly half the monthly payment.
Payment every two weeks, exactly half the monthly payment, for a total of 26 payments.
One additional principal payment made a the end of each year.
Additional principal payment made each month.
The strategy uses a HELOC to make lump sum principal payments.
Extra savings goes into a separate savings account and builds until the mortgage can be paid off in one payment.
|360 (30 years)||$69,801||$0|
|359 (29 years, 11 months)||$69,278||$522|
|319 (26 years, 7 months)||$60,651||$9,149|
|275 (22 years, 11 months)||$51,319||$18,482|
|77 (6 years, 5 months)||$13,175||$56,626|
|78 (6 years, 6 months)||$13,716||$56,085|
|83 (6 years, 11 months)||$24,921||$44,880|
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