Conventional wisdom says that making extra payments toward your mortgage saves interest. True, but that’s not all. Increasing your mortgage payment also means larger equity value and more money in your pocket when you’re older.
What this means to you later in life is explained in my brief article below:
Article picked up by USAToday.
Original blog … What does making extra mortgage payments REALLY do? … that inspired my syndicated article above.
Note: Your RSS feed or email may not show the embedded part of this blog … please go to the blog to see the embedded media portion of the post.
This article was also published here
http://www.mortgagedaily.com/consumers/TnsEarlyPaydown123114.asp
Here are a couple of websites where you may get information about things like current rates, loans, etc based on your specifics
http://www.mortgagemarvel.com/home/Index
and this site has calculators to make comparions, etc
http://www.mtgprofessor.com/calculators.htm
7 factors that determine your mortgage rate:
https://www.consumerfinance.gov/about-us/blog/7-factors-determine-your-mortgage-interest-rate/
This blog post page has moved to
https://www.consumerfinance.gov/about-us/blog/7-factors-determine-your-mortgage-interest-rate/