Quote:
Originally Posted by WSSix
Regardless of what your interest rate is on the home, a simple way to help pay it off quicker is to take one month's payment and divide it into 12. Add that amount to each month's payment which will mean you'll make 13 payments in a year. I can't remember the number of years you'll pay off the loan quicker doing this but it's significant. I personally will do this even if I get a great interest rate. I simply hate having debt.
Oh, and welcome to the forum.
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I have two very low rate mortgages... and I round them both up every month... for the very same reasons you state. I just don't like mortgages. But I also know that at the rates I'm paying (I borrow cash on cash)... it's just flat ass stupid to do what I'm doing.
As you all know I'm in a different "place" investment wise... and don't have any reason whatsoever to "save" any money... but I still just can't stand "owing".