pay off my mortgage

With a layoff and new job I’m back to a $50 prepayment each month.

I’ve started paying a bit more on my mortgage, so that if I keep it up I’ll have it paid it off in 10 years! Fixed rate with no pre-payment penalty is the way to go.

I’m glad I chose the fixed rate rather than an adjustable. My bill is/will be the same for the rest of the term, and there is no pre-payment penalty.

I’m paying $50 extra per month and that will save me $20,223 in interest and take 5 years and 4 months of the term of my loan.