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I bought my home in May 2005 for 82,5k at 5.5% 30yr and in 2007 refinanced at 4.5% 30yr but paid 2k to do it making my mortgage back up to $82.5k. My payments were always around $600-620 with taxes and ins but I paid $800 a month to speed things along.

In Sept 2016 I refinanced $65.9k for 2.75% 15yr and my payment stayed at $620. I kept the $800 a month withdrawal but decided to add an additional $75 per week payment. In 11 months I've gone from owing $65,9k to $55.1k!! Over $10k paid off in less than a year. Half of what I paid in the 10 years prior.



August 03, 2017 at 10:01AM

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