I think the 60 year low of interest rates are over

[Dunerking]

That is great John.

When we refi'd I thought about doing a shorter term, but my loan guy said...do the 30 and pay off more if you want to. If for some reason one month you don't want to pay that much you don't have to. We did 2.75 for 30 yr.

There is no penalty for paying off sooner...I want to pay mine off in 12-15...but if it goes to 18 no biggy.

Just my worthless $.02 :lmao:

This was our logic..pretend we’re paying the 15 year amount and if work is slow for awhile then revert to our 30 year rate. We try to double our monthly principal amount and always do at least a 13 or 14 payment. 

 

[Rockwood]

"Only"

:lmao:

22 years of extra payments at $2,000/month is $88k, netting $26k.  No clue what @Jtmoney714's mortgage is, but 2.25% interest is less than inflation, so to me it's a wash at best pre-paying a mortgage with such a low rate.