Want to save money? I mean BIG money.
Stop what you are doing,
Right Now... find your last mortgage statement.
Now take a look...how much money are you paying in principle??
Now, how much are you paying in INTEREST! (YIKES)
I know it's horrible isn't it!!
Let's say you owe $200,000 on your principle balance at 6% interest rate with a 30 year fixed loan.
If you never make and extra principle payment you will be paying an extra
Did you know you can do something about it?
You can pay down your principle balance and decrease the amount you pay in interest.
There is a great calculator online that can show you how much you can save by prepaying your mortgage principle.