Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
rasseng

0 Contributions
0 People Helped
would like thoughts or suggestions on how eff/beneficial it is to pay an addl amt towards principal?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
36 Contributions
11 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

If you increase your monthly payment by 35-40% you can cut the time and total interest paid by as much as 50% depending on your interest rate.

Top Contributor
7368 Contributions
3809 People Helped

Helpful to 1 out of 1 people

It is very beneficial and can shorten the length of repayment of the loan, plus reduce the total amount of interest you pay.  I try to do that with all of my credit accounts.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.