You’ll Never Guess How Much Faster You’ll Pay Off Your Mortgage With $100 Extra per Month

This article discusses how paying an extra $100 per month on a mortgage loan can have a significant impact on the repayment time, reducing it by up to four years and saving the borrower $60,995 in interest. The entire amount of the extra payment goes towards reducing the principal balance, which in turn reduces the amount of interest owed the next month. There are several ways to find an extra $100 per month, such as taking a side gig or working a few hours.