Save money on your mortgage costs and pay off your home early.

If you make an additional $100 per month payment towards your house payment, you can save thousands of dollars. And possibly retire younger!

This is a typical example in the US:

Remaining mortgage balance: $270,508.68
Current interest rate: 5.700 %
Current monthly payment: $1,625.12
Extra amount paid: $100.00

This scenario pays off your remaining loan balance 3 years and 4 months earlier. Because you'll pay off your loan sooner, you'll pay less interest over the life of the loan. And save $39,071.01.

Let's take this one step further:
Extra amount paid: $200.00

This scenario pays off your remaining loan balance 6 years earlier. Because you'll pay off your loan sooner, you'll pay less interest over the life of the loan. And save $67,389.56.

(c) Copyright 2005 Jeanette J. Fisher