OK, if you understand 1 Equals 5, you’re ready to see how 2 Equals 1,000.
We just saw how 1 EQUALS 5. However, not everybody has an extra $10,000 to drop towards a prepayment early in their mortgage. But everyone should be able to come up with an extra $10, or even $100. When you do that every month, consistantly, Magic happens.
See how those savings can add up, and quickly!
By being diligent and chipping away at the mortgage monthly by adding just $200 per month to the payment, look what happens:
- Shawn saves nearly $100,000 in interest.
- Shawn saves nearly 8 years of mortgage payments.
- When you consider the additional principal added to his equity, Shawn saves $150,418.12.
Summary: For only $200 per month, Shawn saves over $150,000, an Shawn saves 8 years of mortgage payments!
Is there a better investment? Congratulations, Shawn!