Mortgages are another huge factor in the financial pictures of most people. Unfortunately, many individuals are still married to the image of a 30-year mortgage, not realizing just how much of an impact that mortgage loan will have over the better portion of their income-earning careers.

 

Choosing a 15-year mortgage over a 30-year mortgage can make an enormous difference in a family's financial outlook.

 

For those who currently have a 30-year mortgage, there exists a useful technique that, when implemented, can have a significant impact on one's financial health. Paying extra payments in addition to your monthly mortgage payment, even in amounts as little as $50 per month, can have a very beneficial impact.

 

Use the Mortage Payment Calculator below to determine how you could benefit from additional mortage payments and positively affect your wealthbuilding efforts.