Right now I own my home with a fairly new mortgage, 29.5 years left to pay, $1085 per month. I have roommates that pay me almost 80% of that in rent, so I definitely have room to afford a bit extra to pay off the principal. What are the pros for doing so? Obviously the life of the loan will be much shorter and I'll save more in interest over the course, but is there anything else I'm not considering? Is it just a matter of personal preference?
EDIT: My rate is Fixed 3.875%
Submitted January 24, 2017 at 10:51AM by teddytravels http://ift.tt/2j0YFeJ
