When Shawn prepaid his mortgage in year 2, he saved nearly $50,000. When he waited to prepay the same amount until year 18, he … [Read more...] about 1 EQUALS 5.5
1 equals 5
1 EQUALS 5.4
Now let's see what happens to Shawn's investment if he waits to make that extra $10,000 prepayment. In this example: Did … [Read more...] about 1 EQUALS 5.4
1 EQUALS 5.3
Let's look at what happens if Shawn were to make a prepayment earlier. In this scenario, Shawn pays an extra $10,000 towards his … [Read more...] about 1 EQUALS 5.3
1 EQUALS 5.2
By paying his mortgage off early, he saves $14,050 in interest payments. He also saves 5 years of mortgage payments! Boom! (But he … [Read more...] about 1 EQUALS 5.2