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newtx · 05-14-2008, 08:18 PM

Thanks for the quick tip NoSoup. I had no idea 1 extra mortgage payment could make that much difference. I'm assuming those extra payments would be made in the early years of the loan. Since in the early years of a loan the interest is higher than the principal and in the latter years it reverses.

05-14-2008, 08:18 PM	#4 (permalink)
newtx Addict	Thanks for the quick tip NoSoup. I had no idea 1 extra mortgage payment could make that much difference. I'm assuming those extra payments would be made in the early years of the loan. Since in the early years of a loan the interest is higher than the principal and in the latter years it reverses.