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Surefire Ways to Pay down Your Debt

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Using a $ 500,000 home loan with an interest rate of 3.99% and a 30 year term as an example. “If you pay monthly and you raise your payout by $ 250 per month, you could actually save over $ 60,000 of the total interest over the full loan term and cut more than four years of your home loan,” Gibson said. “If you want to increase it to an additional $ 500 per month, you can save over $ 100,000 and reduce your loan period by about eight years.”

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