Mortgage Payoff Math (is Awesome!)

[Malcom Smith]

Hi All,

I'm doing the math on the benefits of investing 2K a month into paying my mortgage off early and it looks too good to be true so I'd really appreciate others thoughts on my math:

$755K, 28 yrs remaining on a 30Yr fixed @ 3.625%. $3,580 monthly payment

$448K in interest due over the remainder of the loan.

Accelerated schedule (no-refi): $2K additional payment per month will finish the loan in 15 Yrs

$217K in interest paid over next 15 Yrs saving 230K (448 - 217) in interest payments.

230K / 15 = $15K saved per yr for $24K per yr in addition payments = 63% ROI on the additional payments!

Is this right? I'm thinking this is the best ROI I can get on 2K.