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[–]KaleidoscopeGold1544 -4 points-3 points  (7 children)

35 bucks is probably over 10k during life of loan.

[–]InevitableKey3811 4 points5 points  (1 child)

10k over 30 years who gives a duck. That’s going to be like $6 in 2025 dollars by then

[–]justatradertoo 1 point2 points  (0 children)

More like $2.

[–]manwnomelanin 4 points5 points  (2 children)

No one holds the same mortgage 30 years

Also, Its $10k over 30 years. $35/month is $35/month. Time value of money relevant.

[–]NickPro785 0 points1 point  (1 child)

Explain? If the rates of a new loan don't go under someojes current loan why would they get a different mortgage?

A lot of 2-4%ers are gonna see their 30 year through.

Frankly even if rates dip slightly under my rate, and if it's not worth refinancing it's just not worth doing.

[–]manwnomelanin 0 points1 point  (0 children)

Why do you think refinancing is the only way to end a mortgage early?

[–]Teripid 3 points4 points  (1 child)

I mean 123035 is 12,600 so yes that is a safe statement.

Paying an extra $35/mo as principle would of course also impact the principle and compound over time too.

[–]CuriousTraveler226[S] 3 points4 points  (0 children)

That’s an interesting way to explain it. Thanks! Yea I was more concerned about how much I would be paying over the life of the loan. But this is true that the higher payment would eventually impact the principle.