Paying off my mortgage in 5years instead of 10 years?

I owe about 109,000 in 10 yrs mortgage, how much more per month would I have to pay to have it paid off in 5 yrs vs the 10 yrs?Paying off my mortgage in 5years instead of 10 years?
The $2107 per month answer, from the other gentleman, is correct. You can download software that I wrote, which will work for free for 5 days, to run different scenario's.





I also wrote an article that describes how to do the mortgage calculation, if you are interested.Paying off my mortgage in 5years instead of 10 years?
When you get your loan they figure your interest rate for the entire 10 years and you pay mostly interest for the first 5 years then you pay off the original loan so trying to pay it off in less time will not save you any money unless you refinance for a shorter period.
we must know your rate in order to give you a good answer





assuming a 6% rate then you must make $2,107.80 in interest and principal payments monthly
just double the monthly payments
i am guessing that you will have to make 2 payments in 1 month