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May 11, 2024
9:09
:10
am
UnoDoctor
Super
In summary
It seems as though what I had hoped would happen, increasing the ratio of principal paid to interest paid with my regular monthly payments, it’s just happening slower than I had hoped.
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UnoDoctor
Previous username
coug16
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UnoDoctor
Joined
Oct 14, 2003
Last login
Jun 19, 2024
Total posts
13,378 (362 FO)
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Messages
Author
Time
Question for muletino or any other mortgage gurus
UnoDoctor
May 11, 6:42am
Pay more principal and lower the loan amount. The interest is just your loan
johnnybyu
May 11, 6:51am
I would only go for 6.25 guaranteed if I was ~5 years or less from retirement
NanoFab Coug
May 11, 7:48am
Yes I should clarify
UnoDoctor
May 11, 8:58am
Interest owed is calculated monthly based on outstanding balance. Whatever the
Hiccupless
May 11, 6:57am
When I pay my mortgage online each month, there's a box for additional priciple
Y05
May 11, 7:02am
That option is called a recast.
NorCal_Coug
May 11, 8:00am
And until you are going to stop overpaying. It doesn’t affect the interest you
VenturaCoug
May 11, 8:11am
As long as your sure your extra is going to principal what your asking for is
DiamondMo
May 11, 8:16am
Not a guru just recast it or
Archaea
May 11, 8:30am
In summary
UnoDoctor
May 11, 9:09am
Make bigger payments
Archaea
May 11, 9:43am
Or, three 20k payments… voila!
NanoFab Coug
May 11, 10:01am
RE: In summary
NanoFab Coug
May 11, 10:15am
Yeah, you can't look at it short term. Have to look at the big picture.
Y05
May 11, 2:31pm
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