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Home financial budget Financial Planning financial planning process money saving ideas Will paying double principle payments effectively turn a 30 year mortage into a 15 year mortage?

Will paying double principle payments effectively turn a 30 year mortage into a 15 year mortage?

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I have a 30 year mortgage. 3.25% interest rate. If I make twice the normal principle payments once a year, will I be able to pay off my house in 15 years?

My rudimentary math says yes. I just want to make sure I'm not missing something.



Submitted March 25, 2018 at 03:15PM by DavidPT40 https://ift.tt/2pFjXz6
financial budgetFinancial Planningfinancial planning processmoney saving ideas
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