When we were just buying our first home, we made sure it didn't have any pre-payment penalties, then I ordered an amortization schedule from the mortgage co. I could see that we were paying just a pittance on the principal every month, but lots on the interest. By sending in small amounts every so often, we paid off our loan 8 yrs earlier and saved thousands in interest payments. You can send an extra principal payment every month or 2 & 3 principal payments once every so often.
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Hi, Thats Great advice and a friend of mine gave me the same. Let me tell you mine bought the family farm for 46,000 dollars 3BR/1BA/30Acres. So I was single got into a big truck and ask a friend to watch the house and mow the yard and paid the note on the front side and backside in 3 yrs the house was mine free and clear.
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