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2. How 1 Extra Mortgage Payment a Year Helps Pay Off Your Home ...

   www.aol.com/finance/one-extra-mortgage-payment...

   The results are nearly identical, although making an extra mortgage payment at the end of the year saves you a tiny bit more money on interest. Pay off date: December 2047. Total interest paid ...

3. Prepaying your mortgage: What is it and should I do it? - AOL

   www.aol.com/finance/prepaying-mortgage-152800578...

   Payment method. Pay off loan in … Total interest. Total interest saved. Minimum every month. 30 years. $644,600. $0. 13 payments a year* 22 years, 11 months

4. Mortgage calculator - Wikipedia

   en.wikipedia.org/wiki/Mortgage_calculator

   The latter amount, the interest component of the current payment, is the interest rate r times the amount unpaid at the end of month N–1. Since in the early years of the mortgage the unpaid principal is still large, so are the interest payments on it; so the portion of the monthly payment going toward paying down the principal is very small ...

5. How to calculate loan payments and costs - AOL

   www.aol.com/finance/calculate-loan-payments...

   Starting loan balance. Monthly payment. Paid toward principal. Paid toward interest. New loan balance. Month 1. $20,000. $387. $287. $100. $19,713. Month 2. $19,713. $387

6. Amortization schedule - Wikipedia

   en.wikipedia.org/wiki/Amortization_schedule

   Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments. [2] A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule.

7. Dave Ramsey’s 7 Tips for Quickly Paying Off a Mortgage - AOL

   www.aol.com/dave-ramsey-7-tips-paying-120027516.html

   Here’s how extra payments would affect a $220,000, 30-year mortgage with a 4% interest rate: Make one extra payment each quarter to shave 11 years and nearly $65,000 off your mortgage.