Image: Cap Hit Breakdown of Supposed 4 vs 5 Year Offers to Dak

[Whirlwin]

you making claims and speaking for professionals -which you are in no position to do- does not make something factual.

A fact is a fact and you can’t change it.Professional or not. And how do you know I’m not LOL

 

[Whirlwin]

It isn't monthly. I don't know what you are looking at. In that link like the first one it is 13 payments annually. 1 extra payment a year like you said.

And that drops it eight years. If you do it monthly quarterly or yearly makes a total difference. You can drop for eight or 12 years off your mortgage depending on how you do it it is monthly. They making the payments every month instead of one lump sum at the end of the year how is that so hard to understand.

 

[Whirlwin]

It isn't monthly. I don't know what you are looking at. In that link like the first one it is 13 payments annually. 1 extra payment a year like you said.

And this one shows eight years isn’t that greater than five. The last one I sent shows yearly. And that shows 12

 

[Whirlwin]

The bottom line my cowboy brothers. You can take years off your mortgage by making an extra yearly payment just ask your loan lender. Good luck

 

[HanD]

It all depends how much you put down. The more you put down in one lump sum the Greater greater the years you subtract. That’s why you put it down once a year instead of a month. Calculate differently it calculates differently. Trust me it’s not that hard. LOL I gave you the link

What link. I haven't seen 1 link compared to what bud gave you and the 2 I provided.

And actually the more often you can do extra payments the faster and less interest you accrue.

 

[bud914]

are you putting in the link for Dave Ramsey?

Payoff Date
Original
May 2050
With Extra Payments
May 2046

 

[Whirlwin]

What link. I haven't seen 1 link compared to what bud gave you and the 2 I provided.

And actually the more often you can do extra payments the faster and less interest you accrue.

Biweekly Mortgage Payments
You make half of your mortgage paymentevery two weeks. That results in 26 half-payments, which equals 13 full monthly payments each year. That extra payment can knock eight years off a 30-year mortgage, depending on the loan's interest rate.
https://www.daveramsey.com › blog
7 Easy Ways to Pay Off Your Mortgage Early | DaveRamsey.com

 

[Whirlwin]

are you putting in the link for Dave Ramsey?

Payoff Date
Original
May 2050
With Extra Payments
May 2046

Yes, if you pay monthly. Yearly quarterly by monthly. Everywhere you do it changes it. The best way to do it is one lump sum at the end of the year you take 12 years off your mortgage. The problem is many people don’t have that lump sum so they make a little bit extra every month. And you don’t take enough years off that way. Although it still helps

 

[HanD]

Biweekly Mortgage Payments
You make half of your mortgage paymentevery two weeks. That results in 26 half-payments, which equals 13 full monthly payments each year. That extra payment can knock eight years off a 30-year mortgage, depending on the loan's interest rate.
https://www.daveramsey.com › blog
7 Easy Ways to Pay Off Your Mortgage Early | DaveRamsey.com

Lol that's totally opposite of what you've said.

You said do it once a year. You said 13 years. You said doing it in bigger amounts instead of each month helps more.

Of course paying bimonthly takes more years off.

 

[Whirlwin]

are you putting in the link for Dave Ramsey?

Payoff Date
Original
May 2050
With Extra Payments
May 2046

You’re only looking at the first calculation there’s five different ways to do it

 

[Whirlwin]

Lol that's totally opposite of what you've said.

You said do it once a year. You said 13 years. You said doing it in bigger amounts instead of each month helps more.

Of course paying bimonthly takes more years off.

By monthly takes less off. Yearly takes more off

 

[Whirlwin]

Lol that's totally opposite of what you've said.

You said do it once a year. You said 13 years. You said doing it in bigger amounts instead of each month helps more.

Of course paying bimonthly takes more years off.

You didn’t read further enough down you stopped at the first one. There’s five different ways to do it on that site. Keep reading And that’s just something I found to help. I’ve known this for 10 years. My banker told me

 

[Whirlwin]

Lol that's totally opposite of what you've said.

You said do it once a year. You said 13 years. You said doing it in bigger amounts instead of each month helps more.

Of course paying bimonthly takes more years off.

Yes do it once a year. This was only an example with the link. I couldn’t find anything else

 

[Whirlwin]

Lol that's totally opposite of what you've said.

You said do it once a year. You said 13 years. You said doing it in bigger amounts instead of each month helps more.

Of course paying bimonthly takes more years off.

I’m glad you’re on your own house congratulations that’s a big deal. I’m on my third house. Once you learn the tricks you keep upgrading. And then when you retire you sell it and step down and live happily ever after LOL

 

[Whirlwin]

I do not recall any reported 4yr offer. Link? Name of source?

I think he was just breaking down the differences

 

[HanD]

You didn’t read further enough down you stopped at the first one. There’s five different ways to do it on that site. Keep reading And that’s just something I found to help. I’ve known this for 10 years. My banker told me

I did. The only other ref is an extra payment quarterly which would be 4 extra payments and that reduces 11 years. No where does it say 1 extra mortgage payment saves 13 years.

 

[bud914]

You didn’t read further enough down you stopped at the first one. There’s five different ways to do it on that site. Keep reading And that’s just something I found to help. I’ve known this for 10 years. My banker told me

straight from your link and this one is making 4 extra payments a year

How to Pay Off Your Mortgage Early
Every dollar you add to your regular payment each month puts a bigger dent in your principal balance—and you don’t have to double-down to make a difference. Adding just one extra payment each year knocks years off your mortgage!

Here are some other options for paying extra on your mortgage and how those extra payments affect, as an example, a $220,000, 30-year mortgage with a 4% interest rate:

1. Make an Extra House Payment Each Quarter
You’ll pay your mortgage off 11 years early, and you’ll save more than $65,000 in interest.

 

[Whirlwin]

I did. The only other ref is an extra payment quarterly which would be 4 extra payments and that reduces 11 years. No where does it say 1 extra mortgage payment saves 13 years.

You are correct. But the first person said he could only find four years off. Then I found another one that gave eight years off. My calculation is 13 years off. And that’s by making that one extra principal payment every single year. Good luck 11 is still better than four or eight isn’t it. I’m telling you you could knock it down 13 years

 

[Whirlwin]

straight from your link and this one is making 4 extra payments a year

How to Pay Off Your Mortgage Early
Every dollar you add to your regular payment each month puts a bigger dent in your principal balance—and you don’t have to double-down to make a difference. Adding just one extra payment each year knocks years off your mortgage!

Here are some other options for paying extra on your mortgage and how those extra payments affect, as an example, a $220,000, 30-year mortgage with a 4% interest rate:

1. Make an Extra House Payment Each Quarter
You’ll pay your mortgage off 11 years early, and you’ll save more than $65,000 in interest.

Each quarter is calculated differently than one lump sum a year. What’s so hard to understand about that statement.

 

[ChuckA1]

Wow, after multiple pages on how to payoff your mortgage early, I'm ready for some Dak threads!