Yes I should clarify

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May 11, 2024
8:58:12am

UnoDoctor Super

This is after maxing out 401k/profitsharing plan, HSA, backdoor roth.

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UnoDoctor

Previous username: coug16
Bio page: UnoDoctor
Joined: Oct 14, 2003
Last login: May 24, 2024
Total posts: 13,339 (357 FO)

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Messages

Author

Time

Question for muletino or any other mortgage gurus

UnoDoctor

May 11, 6:42am

Pay more principal and lower the loan amount. The interest is just your loan

johnnybyu

May 11, 6:51am

I would only go for 6.25 guaranteed if I was ~5 years or less from retirement

NanoFab Coug

May 11, 7:48am

Yes I should clarify

UnoDoctor

May 11, 8:58am

Interest owed is calculated monthly based on outstanding balance. Whatever the

Hiccupless

May 11, 6:57am

When I pay my mortgage online each month, there's a box for additional priciple

Y05

May 11, 7:02am

That option is called a recast.

NorCal_Coug

May 11, 8:00am

And until you are going to stop overpaying. It doesn’t affect the interest you

VenturaCoug

May 11, 8:11am

As long as your sure your extra is going to principal what your asking for is

DiamondMo

May 11, 8:16am

Not a guru just recast it or

Archaea

May 11, 8:30am

In summary

UnoDoctor

May 11, 9:09am

Make bigger payments

Archaea

May 11, 9:43am

Or, three 20k payments… voila!

NanoFab Coug

May 11, 10:01am

RE: In summary

NanoFab Coug

May 11, 10:15am

Yeah, you can't look at it short term. Have to look at the big picture.

Y05

May 11, 2:31pm

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