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What Happens If I Pay An Extra $200 A Month On My Mortgage? [Solved]
If you pay $200 extra a month towards principal, you can cut your loan term by more than 8 years and reduce the interest paid by more than $44,000. Another way to pay down your loan in less time is to make half-monthly payments every 2 weeks, instead of 1 full monthly payment.
Will paying an extra 200 a month on mortgage?
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Paying extra on your loan: The RIGHT way to do it! (Monthly vs Annually)
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Pay less interest on your mortgage
In this video, I discuss how to
