In the example I went over on the $250,000 mortgage at 4.5 percent with a monthly mortgage payment of $1,266 a month, just adding $126 a month EXTRA toward the principal would pay that mortgage off five years sooner, saving you $39,933! Make two extra payments of $126 and you would save $63,421! Reread that. That’s like two months of your Latte Factor! Right? Two months of coffee at home a year, and you’ve paid your home off eight years faster and saved $63,421.
