Amortization schedules can jumble me sometimes.
I am about 6 years into a 30 year mortgage, and am planing to do a contingent sale and use the proceeds as a down payment on a new home in the next one to three years. It seems like pre-paying principle would be making more than the mortgage interest rate (3.5%) in this situation because of where I am on the amortization schedule. Is this wrong?
(meant to post in investor alley, little help mods)