Pay Your Home Mortgage Off Faster

     Interest is the fee we pay when we borrow money.  Interest is always attached to time.  Two years' interest is more than one year's interest.  Thirty years' interest is more than twenty years' interest.

     You can borrow $200,000 to buy a new house.  At 4% , your thirty year pay back payment would be $954.83 per month.  In thirty years, you will pay $143,738 in interest.

Pay off your mortgage as fast as possible

     If you started from your first payment paying $1211.96 per month, you house would be paid for in twenty years.  You would pay $90,870 in interest over the twenty years.  What is the difference between $1211 and $ 954 ?  The difference is $257.  You can afford that.  You would save yourself    $ 52,800.

     Start making a payment that will pay off your mortgage faster.  You will be glad that you did when you make that last payment.

     You don't need anyone's permission to do this.  You don't need the bank's permission.  You don't even need your spouse's permission.  Write the check and mail it.  Check your statement next month and be certain that the excess money is properly credited.  Learn to compute your own amortization. https://www.youtube.com/watch?v=4HbEwoiVBMY    Here is a link to a video about computing amortization.

     Start today.