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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.
In a recent YouTube video, Dave Ramsey spoke with a caller about paying off his mortgage early. For context, the caller and her husband earn a combined total of $250,000 a year and owe $633,000 on...
Dave Ramsey, the renowned financial guru, has long been a proponent of financial discipline and savvy money management. This can include paying off your mortgage early, but only under specific...
As the post on Ramsey Solutions reads, in a situation where packing your lunch frees up $100 each month to put toward your mortgage and your mortgage is $220,000, you’ll be able to pay off your ...
So, as Ramsey said, if you must borrow, and most of us must, your goal should be to keep the mortgage below one-fourth of your take-home pay. That means if you bring home $4,000 each month, your ...
I recently wrote about how I stopped making extra payments on my mortgage because once I did the math, it didn't make sense. My mortgage rate is below 4%, while the S&P 500 has an average return ...
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