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

[ChuckA1]

The only way Dak takes a five year is if there's another 2-3 mill a year as he'd be passing up a gigantic payday in year 5. So that would look like this.

Y1- 29M, Y2- 33M, Y3- 37M, Y4- 41M, Y5- 45M

What would this look like with the guaranteed money ? This would move that up a little, to say $120m, right?

 

[Whirlwin]

Who knew this thread would turn into a mortgage argument lol

People still dispute facts. That’s what I find comical. LOL I could see if it was an opinion

 

[Whirlwin]

Who knew this thread would turn into a mortgage argument lol

It was a lesson on salary cap LOL I just don’t like Prescott and there’s nothing that anyone’s going to Say to prove it. That they will agree with. I have more respect if they just come out and say look I hate him

 

[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

It won’t let you put in a yearly payment. You’re getting quotes on extra each month not a lump your sum . I guess I’m lucky that it works for me, LOL my house is paid for. 13 years earlier

 

[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.[/
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 canknock eight years off a 30-year mortgage, depending on the loan's interest rate. This shows an extra eight years off. Because you made more each month. You make that one payment once a year. 13 years off your mortgage bye-bye. It’s just the way it’s calculated. The more you put down a month the more it reduces. The more you put down in a lump sum every deuces it even more. Ask your banker

 

[bud914]

Here’s an example of how prepaying saves money and time: Kaylyn takes out a $120,000 mortgage at a 4.5 percent interest rate. The monthly mortgage principal and interest total $608.02. Here’s what happens when Kaylyn makes extra mortgage payments:


Payment method Pay off loan in … Total interest Total interest saved
*Extra $608.02 payment
Minimum every month 30 years $98,888 $0
13 payments a year* 25 years, 9 months $82,870 $16,018
$100 extra every month 22 years, 6 months $70,944 $27,944
$50 extra every month 25 years, 8 months $82,452 $16,436
$25 extra every month 27 years, 8 months $89,864 $9,024

 

[HanD]

It won’t let you put in a yearly payment. You’re getting quotes on extra each month not a lump your sum . I guess I’m lucky that it works for me, LOL my house is paid for. 13 years earlier

If you go down and add extra payments then click show amortization table it'll do everything for you.

If you can provide a link it'd be quick to show the rest of us. Thanks.

I haven't seen anywhere when it pays off that quick but id love to

 

[Whirlwin]

Here’s an example of how prepaying saves money and time: Kaylyn takes out a $120,000 mortgage at a 4.5 percent interest rate. The monthly mortgage principal and interest total $608.02. Here’s what happens when Kaylyn makes extra mortgage payments:


Payment method Pay off loan in … Total interest Total interest saved
*Extra $608.02 payment
Minimum every month 30 years $98,888 $0
13 payments a year* 25 years, 9 months $82,870 $16,018
$100 extra every month 22 years, 6 months $70,944 $27,944
$50 extra every month 25 years, 8 months $82,452 $16,436
$25 extra every month 27 years, 8 months $89,864 $9,024

. You make one principal payment a year, not a month it doesn’t calculate the same. That’s what people aren’t getting. It’s calculated differently. It’s how much you put down a lump sum not how much you put down overtime

 

[Whirlwin]

If you go down and add extra payments then click show amortization table it'll do everything for you.

If you can provide a link it'd be quick to show the rest of us. Thanks.

I haven't seen anywhere when it pays off that quick but id love to

If you go down and add extra payments then click show amortization table it'll do everything for you.

If you can provide a link it'd be quick to show the rest of us. Thanks.

I haven't seen anywhere when it pays off that quick but id love to

I just told you the difference. You’re making one large payment a year not a small payment every month. When you do it every month it breaks down to eight years savings. When you do it the way I tell you it breaks down to 12 years. How is that so hard to understand. Do it yearly not monthly

 

[Whirlwin]

If you go down and add extra payments then click show amortization table it'll do everything for you.

If you can provide a link it'd be quick to show the rest of us. Thanks.

I haven't seen anywhere when it pays off that quick but id love to

Just Google. Make one principal payment a year how many years comes off my payments. It could be four years to eight years to 12 years. Depending on how you do it. If you put so much down every month it’s not the same as a lump sum at the end of the year. That’s the secret. They don’t want you to pay it off. But if you ask the banker they’ll tell you

 

[Whirlwin]

If you go down and add extra payments then click show amortization table it'll do everything for you.

If you can provide a link it'd be quick to show the rest of us. Thanks.

I haven't seen anywhere when it pays off that quick but id love to

I don’t make this stuff up I’m trying to help.

 

[HanD]

I just told you the difference. You’re making one large payment a year not a small payment every month. When you do it every month it breaks down to eight years savings. When you do it the way I tell you it breaks down to 12 years. How is that so hard to understand. Do it yearly not monthly

I did that. Here is another calculator that still says 5 years

https://www.quickenloans.com/mortgage-calculator/mortgage-amortization-calculator

 

[Whirlwin]

I did that. Here is another calculator that still says 5 years

https://www.quickenloans.com/mortgage-calculator/mortgage-amortization-calculator[/
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
This shows you doing it monthly. If you do a lump sum at the end of the year it’s 12 years it’s greater than eight.

 

[bud914]

. You make one principal payment a year, not a month it doesn’t calculate the same. That’s what people aren’t getting. It’s calculated differently. It’s how much you put down a lump sum not how much you put down overtime

says right in the post 1 extra payment a year and this example includes principal and interest. you have something wrong in your thinking and i am not busting on you, i know you are trying to help but your math is wrong.

Here’s an example of how prepaying saves money and time: Kaylyn takes out a $120,000 mortgage at a 4.5 percent interest rate. The monthly mortgage principal and interest total $608.02. Here’s what happens when Kaylyn makes extra mortgage payments:


Payment method Pay off loan in … Total interest Total interest saved
*Extra $608.02 payment
Minimum every month 30 years $98,888 $0
13 payments a year* 25 years, 9 months $82,870 $16,018
$100 extra every month 22 years, 6 months $70,944 $27,944
$50 extra every month 25 years, 8 months $82,452 $16,436
$25 extra every month 27 years, 8 months $89,864 $9,024

 

[Whirlwin]

I did that. Here is another calculator that still says 5 years

https://www.quickenloans.com/mortgage-calculator/mortgage-amortization-calculator

When you get your income tax back at the end of the year. Make one extra principal payment. You will now have a 17 year mortgage. I did it my house is paid for. I saved you hundreds of thousands of dollars. You can’t do it monthly it doesn’t calculate the same that’s the secret

 

[Whirlwin]

says right in the post 1 extra payment a year and this example includes principal and interest. you have something wrong in your thinking and i am not busting on you, i know you are trying to help but your math is wrong.

Here’s an example of how prepaying saves money and time: Kaylyn takes out a $120,000 mortgage at a 4.5 percent interest rate. The monthly mortgage principal and interest total $608.02. Here’s what happens when Kaylyn makes extra mortgage payments:


Payment method Pay off loan in … Total interest Total interest saved
*Extra $608.02 payment
Minimum every month 30 years $98,888 $0
13 payments a year* 25 years, 9 months $82,870 $16,018
$100 extra every month 22 years, 6 months $70,944 $27,944
$50 extra every month 25 years, 8 months $82,452 $16,436
$25 extra every month 27 years, 8 months $89,864 $9,024[/
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

 

[HanD]

. You make one principal payment a year, not a month it doesn’t calculate the same. That’s what people aren’t getting. It’s calculated differently. It’s how much you put down a lump sum not how much you put down overtime

That is chart bud put up is from bankrate. Is says 5 years

 

[FuzzyLumpkins]

People still dispute facts. That’s what I find comical. LOL I could see if it was an opinion

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

 

[Whirlwin]

I did that. Here is another calculator that still says 5 years

https://www.quickenloans.com/mortgage-calculator/mortgage-amortization-calculator

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

 

[HanD]

When you get your income tax back at the end of the year. Make one extra principal payment. You will now have a 17 year mortgage. I did it my house is paid for. I saved you hundreds of thousands of dollars. You can’t do it monthly it doesn’t calculate the same that’s the secret

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.