Paying Off Your Mortgage FAST!


— Slide 4: Summary Review of the MMA Program —

Diagram of an actual MMA plan

The starting mortgage loan balance was:
$136,058

the client used the MMA software to manage their money position

their new mortgage loan balance after 12 months was $126,231

New mortgage loan balance:
$126,231

without the MMA program, it would take 4.7 years to reduce the starting mortgage loan balance by the same amount under a conventional program

click to view the numbers

 

$100,000 Mortgage
30 Year Term - 6% APR
Monthly Lump Sum Payments
$0
$50 extra
Total Payments $215,838.19 $191,268.99
Total Interest Paid $115,838.19 $91,268.99
Total Principal Paid $100,000.00 $100,000.00
Total Interest Saved $24,569.99
Mortgage Payoff Time 30 Years 24.58 Years

$200,000 Mortgage
30 Year Term - 6% APR

Monthly Lump Sum Payments
$0
$50 extra
Total Payments $431,676.38 $403,797.07
Total Interest Paid $231,676.38 $203,797.07
Total Principal Paid $200,000.00 $200,000.00
Total Interest Saved $27,879.31
Mortgage Payoff Time 30 Years 27 Years

The diagram shows an actual MMA mortgage plan being paid off within 11.3 years


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MMA software
(part 3)