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

[CowboyMort]

Here's an amortization calculator. Many factors impact payoff time with extra payments including interest and loan amount but it's usually 5 or so years.

This link says an extra payment per year will knock off 6 years on a 30 year mortgage.

https://www.mortgagecalculator.org/helpful-advice/early-payoff-savings.php

 

[Creeper]

If Dak plays on the franchise tag for the next 2 years he gets $68 million, then he signs a long term deal two years from now at closer to $40 million a year because that's where the money will be. This is why he has not signed a long term deal yet and probably why he won't. The risk Dak is taking is if he gets hurt but even then it would have to be a serious injury that would affect his career. In 4 years Dak has been very durable so its a good risk for him to take.

If the Cowboys offer him ridiculous money now then maybe he signs, but my guess is his agent has done the math and has advised Dak to play on the franchise tag the next 2 years.

 

[817Gill]

Another troll fake news story. 35 million is the number on average.

You do the math lol? The Average annual salary of the 5 year deal is 35. Add them up and then divide by 5. Calculator or pencil and paper work.

 

[CowboyoWales]

If Dak plays on the franchise tag for the next 2 years he gets $68 million, then he signs a long term deal two years from now at closer to $40 million a year because that's where the money will be. This is why he has not signed a long term deal yet and probably why he won't. The risk Dak is taking is if he gets hurt but even then it would have to be a serious injury that would affect his career. In 4 years Dak has been very durable so its a good risk for him to take.

If the Cowboys offer him ridiculous money now then maybe he signs, but my guess is his agent has done the math and has advised Dak to play on the franchise tag the next 2 years.

What happens if we don't progress through the playoffs next year or god forbid don't make the playoffs at all. Do we then pass on Dak as there's no excuses left...let him go and find what his market value is and spend the money shoring up the defence (and playing a bus driver at QB)

I'm a Dak fan, but IF he wants a record breaking deal he'll need to sign before Mahomes…..let him play the season under the Franchise Tag and see what the market is next year.

 

[LatinMind]

The problem with that approach is the possibility the cap goes DOWN for the 2021 season (and maybe 2022) with the lack of game day revenue.

Thats why the nfl is talking with the nflpa right now to get something setup to get the money situation fixed for that situation.

 

[817Gill]

Thats why the nfl is talking with the nflpa right now to get something setup to get the money situation fixed for that situation.

Both owners and players don’t want the salary cap decrease, you’d have to cut valuable guys in order to get under and no one wants that.

 

[bud914]

This link says an extra payment per year will knock off 6 years on a 30 year mortgage.

https://www.mortgagecalculator.org/helpful-advice/early-payoff-savings.php

Simply paying a little more towards the principal each month will allow the borrower to pay off the mortgage early. Just paying an additional $100 per month towards the principal of the mortgage reduces the number of months of the payments. A 30 year mortgage (360 months) can be reduced to about 24 years (279 months) – this represents a savings of 6 years!

He is talking about paying an extra months principal. Big difference....

 

[CowboyRoy]

You do the math lol? The Average annual salary of the 5 year deal is 35. Add them up and then divide by 5. Calculator or pencil and paper work.

It will be a 4 years deal.

 

[Flamma]

Both deals wouldn't hinder us in the short term. If the reported deal is true, not sure why they don't get this done.

*Can’t view on my mobile but can on laptop.


4 Year:

Y1- 29M, Y2- 33M, Y3- 37M, Y4- 41M

5 Year:

Y1- 27M, Y2- 31M, Y3- 35M, Y4- 39M, Y5- 43M

Yeah, that's not only bad short term. It's bad for the entire contract.

Lets get the 4 year plan into perspective. His first year cap hit would be around 15% of the cap. Lets see what the cap would have to be each year to maintain 15%.

Year 1 at 29M = is around 15%

Year 2 at 33M cap would have to be 220M

Year 3 at 37M the cap would have to be 246M to maintain 15%

Year 4 at 41M the cap would have to be 273M

We know the cap is going up that high so Dak will be around 20-30% throughout his contract. A four year deal would be one of the dumbest signings in the history of the NFL.

 

[HanD]

This link says an extra payment per year will knock off 6 years on a 30 year mortgage.

https://www.mortgagecalculator.org/helpful-advice/early-payoff-savings.php

Right. About. It depends on your interest rate and amount borrowed. It's not going to be 13 years though.

 

[HanD]

It’s a very simple calculation. The banks know it but they’re not gonna volunteer the information. From the beginning of the loan make one extra principal payment. And you’ll save hundreds of thousands of dollars. In the course of 30 years. It will drop it to a 17 year mortgage. And that is an actual fact not an opinion

Banks don't need to volunteer anything. It's math. There are spreadsheets and calculations for this.

 

[Whirlwin]

Banks don't need to volunteer anything. It's math. There are spreadsheets and calculations for this.

Then go back to school and learn the math. Or pull up the spreadsheet. Because you’re still not getting it obviously

 

[Kevinicus]

Then go back to school and learn the math. Or pull up the spreadsheet. Because you’re still not getting it obviously

The math doesn't work like you're saying.

 

[HanD]

Then go back to school and learn the math. Or pull up the spreadsheet. Because you’re still not getting it obviously

Lol I'm pretty okay in math. Not sure why we need to try to insult. Just give me a link to read and discuss.

But I'd love to read more if you can tell me more about saving 13 years of mortgage.

This is the one similar to ones I've seen where it says ballpark 5 years.

https://www.bankrate.com/calculators/mortgages/amortization-calculator.aspx

 

[FLCowboyFan]

Yes I am absolutely correct go to the bank. Ask them. You reduce your 30 year mortgage to 17 years. And that is an absolute fact. Depending on the interest rate the minimum is 15. But you have to start doing it the year of the loan

According to a google search it knocks off 4 years off a 30 year mortgage. I wish you were correct. Please find a link to a source that shows that it is 17 years.

 

[Whirlwin]

According to a google search it knocks off 4 years off a 30 year mortgage. I wish you were correct. Please find a link to a source that shows that it is 17 years.

Google is wrong. Told you go talk to professional

 

[Whirlwin]

According to a google search it knocks off 4 years off a 30 year mortgage. I wish you were correct. Please find a link to a source that shows that it is 17 years.[/
Adding Extra Each Month
Just paying an additional $100 per month towards the principal of the mortgage reduces the number of months of the payments. A 30 year mortgage (360 months) can be reduced to about 24 years (279 months) – this represents a savings of 6 years!This is directly from Google. Imagine if you made one principal payment a A year. It takes those six years and drops it down to 15. 17.

 

[Whirlwin]

According to a google search it knocks off 4 years off a 30 year mortgage. I wish you were correct. Please find a link to a source that shows that it is 17 years.

Your four years represents $100 extra a A month. That’s different than one principal payment per year. It’s calculated differently.You’re putting more down at once in a lump sum not spreading it out. Trust me my house is paid for

 

[817Gill]

Who knew this thread would turn into a mortgage argument lol

 

[Whirlwin]

Lol I'm pretty okay in math. Not sure why we need to try to insult. Just give me a link to read and discuss.

But I'd love to read more if you can tell me more about saving 13 years of mortgage.

This is the one similar to ones I've seen where it says ballpark 5 years.

https://www.bankrate.com/calculators/mortgages/amortization-calculator.aspx

Google it. If you pay $100 extra month you reduce your overall payments down to five less years. If you put one extra principal payment down all at once once a year. It reduces it by 23 years. It’s a lump sum all at once not $100 spread out. You just don’t get it call your banker