Laura, this calculator was very helpful. This is what we figured out:
If we pay an extra $100 monthly - it takes about 9 years off the loan
If we pay an extra $200 monthly - 13 years
$300 - 16 years
If we double our mortgage payment - we will be mortgage free in 5 years.
A double mortgage payment is a pipe dream for us, but starting last month we are directing all our snowball power to our mortgage. :
Happy wife to DH and mama to DS 11/05 and DD 8/07.