The easiest way to calculate this is to search for an online mortgage calculator and plug in different numbers to see what you can afford and stick with. Even if you can't stick with it every extra payment you make saves you money in the long run.
An important question to ask yourself is this though. Can I invest that money somewhere else to make a higher return? Being mortgage free faster is a great reason but make sure it works for you from a financial standpoint.
Hope this helps.
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However, if it were me, with money being so cheap, I wouldn't worry as much about paying off my mortgage as I would getting more than one house. If you think about it, money is only 3.75% or so. You could either pay off your house or buy another house to rent out. Instead of paying $10K toward my current mortgage, I'd rather use that money to buy another property and rent it out. Rents are high in Austin. I'd rather own 5 properties and rent 4 and make money per month leveraging the bank's money than own one property free and clear.
My 2 cents!
Watch this market climb, flip the smaller unit in 3-4 years, and use the proceeds to pay down your current note.
Even a small condo can pay for itself while the tenant essentially pays those extra payments you desire.
A couple ways to make it happen!
GRI, CRS, ABR, CLHMS, e-Pro
The only thing is.... you are paying every 2 weeks. So in TWO of the months you will make 3 payments. That is three 1/2 payments.
This extra does indeed knock off 7 yrs.
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