Original loan amount: $120,156
Original loan date: 7/29/2011 (first payment due 09/01/2011)
Loan length: 15 years
Balance remaining: $96, 042.15
Interest rate: 3.75%
We've been paying on this loan every two weeks, but it just occurred to me that maybe that isn't the best plan. We are in debt payoff mode, paying off some debts with interest rates as high as 8.25%. Maybe I'm answering my own question, but wouldn't it be better to take the money away from paying off the mortgage early, and put it toward the higher interest loan?
Anything I'm missing about this?