Reem Misto
Region: US
Friday 19 September 2025 12:56:34 GMT
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I pay $2000 extra per month in addition to the principal. I get so happy every time I see my monthly statements. I hope to pay my 30-year in 8 years. Then, I retire
2025-09-19 22:01:34
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Can you explain why divide by 5? Also is that the concept is as long as you pay extra principle only payment, they the mortgage length will be shorter? How about paying lum sum to principle from time to time, will it be even better or monthly is better? Thanks for any advices!
2025-10-08 16:39:09
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No thank you, you're just stressing yourself to pay the whole amount in less than a year from your contract, Just be happy, no stress, Trust MRI
2025-10-07 13:07:13
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My bank only allow to make extra payment once in a year?
2025-10-13 07:08:23
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Barely I can pay my monthly mortgage 3,000 and you want me to add around $500 more? I can’t
2025-09-19 20:56:23
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why devide by 5
2025-09-20 15:18:52
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Only get a 15 year mortgage the difference isn’t that much
2025-10-12 18:19:44
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Where are we getting the extra money to send to the principal 😭😭😭😭😭
2025-09-21 01:43:43
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Most people don't stay in their homes that long. 7-8 years average. if they stay longer it's because they have a low rate and current rates are higher. if you have 2% rate then why not put that extra principle payment in a 5% CD, investment or Roth account that earns you more than 2 or 3% in mortgage interest payment
2025-10-06 03:37:34
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will this work if you sent those 12 amount payments of $360 ($4320) towards the principal just once a year.
2025-09-20 09:31:31
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How about on 15 year loan. What’s hack to pay off faster
2025-10-12 14:00:17
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I did a 15 year mortgage, paid my house off 5 years.
2025-09-20 20:37:26
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how many years you pay that extra payment to cut 10 years…
2025-09-20 03:00:06
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In Canada at RBC you’re only allowed to make one principal payment per year. So you’d have to put that 360 away every month for one year and then make the principal payment.
2025-10-07 11:37:28
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The bank will not allow me to payoff my loan…..I would be penalized
2025-09-20 02:37:24
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Can I do the same on a car loan ?
2025-10-13 14:01:47
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let's say, you don't that. and in 3 or 5 years. you can't make payment to your house because you just can't. what happens to that extra money you alredy paid?
2025-09-20 18:02:35
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My interest and principal is 20 800.00$ dividing it by 5 I would have to pay 4160$ extra per month that’s to much for me
2025-10-05 18:17:46
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$1800?? More like $2800
2025-10-06 04:39:19
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Dividing your monthly mortgage payment by 5 is just a shortcut—1/5 equals about 20%. Paying roughly 20% extra toward principal each month on a 30-year loan can cut years off and save big on interest. Always mark it as ‘principal only.’”
2025-09-21 20:42:13
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It only works on a 30 yr loan? Does it not work on my 15 year loan?
2025-09-20 14:34:10
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I did it and I paid my mortgage 10 years earlier
2025-10-03 20:05:02
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Another thing that helps pay down the mortgage really fast get a part-time job and make all those extra payments using the part-time job every single month
2025-09-20 13:50:46
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Reem is the BEST 🥰
2025-09-26 00:54:59
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I started paying an extra $1127.21 each month ten years ago. I saved eight years.
2025-09-21 04:50:45
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