why i'm choosing not to pay off my mortgage early

Exactly 4 years ago around this time at the ripe old age of 26, I was smack dab in the middle of house-hunting. I had been saving for a down payment for a few years and had finally hit my goal, so off I went into the world of starter homes and cute bungalows to find a house for this single gal that would be mine and all mine.  Well, mine and the bank’s.  At least for 15 years.

Luckily I didn’t have to deal with some of the house-hunting nightmares that others have had to endure, and I found a cute little place in the area I wanted for a great price.  We were still coming out of the recession so it was a buyer’s market, and with interest rates so low, I jumped at the deal.

how i saved $37,000 in two minutes: my loan amortization calculator tool

I’m just going to start off with this:  if you have a loan or expect to take out one for any reason – student, car, home – within the future, you will want to read this post.  Trust me.

When I first started my home buying process way back in 2013, I was like a deer in the headlights:  staring at this large responsibility coming my way but completely stunned as to which way to turn.  I knew roughly how much I wanted to pay per month on my mortgage, and with the help of some mortgage payment calculators found through a simple Google search, I knew how that translated into a home price.  However, what I didn’t know is how much it was REALLY going to cost me.