Jade Warshaw

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All righty then.

Stephen is in Hartford, Connecticut.

Hey, Stephen, how can we help today?

I mean, the best way is to pay extra payments.

So you pay your normal payment that's due that satisfies the interest.

And then after that's free and clear, then you can go back and put extra payments and put them directly onto the principal.

And that truly is the best way to do it over time.

So your mortgage payment, the payment that you pay every month, it's probably comprised of a couple elements.

There is the actual loan balance, what you owe for the home.

And then you probably have some insurance that's built in there, some taxes that are built in there, right?

HOA sometimes.

HOA, sometimes that's built in.

So your payment is going to all those different places when you pay your monthly payment, interest, all of that.

So after you've paid that monthly payment, you've satisfied the interest, you've satisfied the taxes, anything else that's built in.

Now, any extra money that you apply, it's going to go directly to the loan balance, which we would call the principal.

So it's going to go straight to that.

And that way it's like a pure, it's pure money.

So if you pay $500, it's going to lower your balance by five, you know, it's going to lower it by that much because it's already...

It's on top of your normal payment.