extra mortgage payment
How Much Extra to Pay on Mortgage: Amounts That Save
The statement says the same thing every month: one payment, one date, one balance that barely moves. After four years of on-time payments on a $300,000 loan at 6%, a borrower has handed over roughly $86,000 and reduced the balance by only about $16,000, because most of each payment covers interest rather than principal. The instinct to send an extra $100 is right. The amount deserves a real decision rather than a guess. Paid too little, an extra payment barely registers. Paid too much, it
