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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...

    If you make an extra monthly payment of $1,879 each December, you’ll pay off your 30-year mortgage almost five years ahead of schedule and net about $60,000 in interest savings in the process ...

  3. 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.

  4. Suze Orman Shares Advice for Paying Down Your Mortgage Faster

    www.aol.com/suze-orman-shares-advice-paying...

    By making one extra mortgage payment a month, you can reduce your 30-year mortgage down to maybe 27 years and a 15-year mortgage at a 6% interest rate down to 12 years, Orman estimated.

  5. What happens when you pay off your mortgage? - AOL

    www.aol.com/finance/happens-pay-off-mortgage...

    Refinancing can help you pay off your mortgage more quickly if you shorten the loan term — if your new mortgage is 15 years, instead of 30 years like the original one, say.

  6. How To Pay Off Your Mortgage in 10 Years - AOL

    www.aol.com/pay-off-mortgage-10-years-210018971.html

    “Biweekly payments, which require paying half of your monthly payment every two weeks, result in a total of 26 half-payments in a given year. Instead of making 12 full mortgage payments in a ...

  7. PSA prepayment model - Wikipedia

    en.wikipedia.org/wiki/PSA_prepayment_model

    Are less likely to refinance into a new mortgage, and; Are less likely to make extra payments of principal. The standard model (also called "100% PSA") works as follows: Starting with an annualized prepayment rate of 0.2% in month 1, the rate increases by 0.2% each month, until it reaches 6% in month 30.

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