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Updated over 5 years ago on . Most recent reply

User Stats

58
Posts
21
Votes
Chris Hill
21
Votes |
58
Posts

snowball or equal overpayments?

Chris Hill
Posted

i've been searching calcaluators everywhere, but im sure someone would know the answer here sooner...

situation:  i have 3 properties i would like to pay off, each at 4.75% with about 70k remaining on each loan.  my other properties produce about $3K extra cash flow per month.  current payments is about $500 on each property.  I know with avalanche payment i can have all 3 paid off in about 5 years if i put all 3K into one property at a time.  

however, would it be any faster or slower to put 1k into all 3 each month?  i cant find a calculator for that to see if it is faster or slower.

(yes the best plan would be to save that 3k to buy more, but i'm covered there).  


Thanks for any wisdom you can offer!

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