I pay an extra $500/mo on my mortgage and $5k/yr around bonus time which will cut 12 years off my term. It's especially important during the first several years as only about 1/3rd of your payment is going toward principal. It isn't until year nine that you'll even break 50%.
__________________
The views and opinions expressed in this post are those of the author and do not necessarily reflect the official policy or position of Bimmerpost.
2018 Jeep Grand Cherokee High Altitude Hemi | 2010 S4 Sold | 2010 BMW 135i Retired | 2006 Lotus Exige Sold
|