Excitement for the Day

[callistra]

If we pay off our house loan at our current rate, then we will finish it on the 28/10/2028. Weirdly enough, that's actually one year and a month out, but only just. (A lot happens to home loans after all. And this is a dicky spreadsheet I set up using directions found on the internet.)

If we move *all* our secret hidden take-over-the-world nest egg cash into it now but make no changes to payment or interest, then we will finish it on the 28/06/2022. 6 years and 4 months savings.

If we also paid $50 extra a month into the loan, we will have paid it off by 28/11/2019. A nine year and one month saving.

If we did NOT move our secret nest egg money into the loan, but did pay off an extra $50 a month, we would pay it out by 28/06/2024. Saving us four years and four months.

So, our options are roughly: 23 years. 14 years. 23 years. *sigh* Still seems like forever to me.
:-)

Comments

Further ruminations

[callistra.livejournal.com]

http://www.yourmortgage.com.au/calculators/repay_advanced/index.cfm

[numbat.livejournal.com]

You could always rob a bank and pay it off tomorrow. . .

[nightmancyr.livejournal.com]

I knew there was a reason renting was still appealing to G and I.

lol

[callistra.livejournal.com]

What, paying *forever* and not even getting the land you're living on? And there's a bonus in there somewhere...?

:-)