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usedtobedemgurl

(1,878 posts)

32. You must tell the lender it needs to be put towards the principle

Reply to mopinko (Original post)

Mon Nov 10, 2025, 10:29 AM

Monday

Or it will not be dedicated to that and it will be wasteful. Not only does it shorten the loan time, it shortens the amount of interest, so it saves you a lot of money. We paid our 30 year mortgage in 12 years!

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since we're talking about mortgages [View all] mopinko Sunday OP

true, Valon Mtg has a calculator showing how you save and how much shorter the loan is Shellback Squid Sunday #1

Most people never pay off a mortgage. MineralMan Sunday #2

At my age 70 crud Sunday #9

Unless the whole system goes to crap...... Hope22 Sunday #13

I agree. It's not easy, though, for working folks MineralMan Sunday #15

Sounds good! Sweat equity is definitely the key. Hope22 Sunday #20

Always do the math. MineralMan Sunday #27

I got a 30 year loan dsc Sunday #21

You probably won't keep that house. MineralMan Sunday #23

May well be the case dsc Sunday #30

I hate moving, too. It's a lot of work. MineralMan Monday #31

Excellent Points ProfessorGAC Sunday #24

Yes. You Have to Do the Math. MineralMan Sunday #26

This is a good reminder! Nittersing Sunday #3

i took an abatement during covid. mopinko Sunday #4

Extra payments Timewas Sunday #5

any little windfall, part of it shd b put to the mortgage. mopinko Sunday #6

This message was self-deleted by its author PeaceWave Sunday #12

it gives u more leeway to get an equity loan. mopinko Sunday #14

This message was self-deleted by its author PeaceWave Sunday #16

refi- no, it's not a non-factor. it's a direct factor. mopinko Sunday #18

Rule of thumb - one extra payment per year turns a 30-year mortgage into a 23-year mortgage hatrack Sunday #7

I did that as much as I could on my first house... haele Sunday #8

All this cheerful advice about mortgages, credit card debt, and car loans... hunter Sunday #10

+1 leftstreet Sunday #17

So for the first payment a week early and send $50. Extra to be applied to the principal questionseverything Sunday #11

Another interesting fact airplaneman Sunday #19

yup. i remember that being a thing a while back. mopinko Sunday #22

This message was self-deleted by its author PeaceWave Sunday #25

yeah, 2%. hardly worth it. mopinko Sunday #28

This message was self-deleted by its author PeaceWave Sunday #29

You must tell the lender it needs to be put towards the principle usedtobedemgurl Monday #32

my payment had a box for extra principal. mopinko Monday #33