- posted 3 months ago
So here is my question in detail. I have created a spreadsheet that analyses two loans versus one. The first is my straight 30 year note at 3.875. By paying the $1200 extra each month it will be paid off in February 2029. The second is my HELOC (5.875%), where if I borrow 87000 (applied as a one time payment to the mortgage), the $1200 paid to the HELOC, along with paying my minimum mortgage payment (2 loans essentially), shows them both paid off in August of 2027 (a saving in combined interest of over $2000, and paid off a year and a half early. Intuitively this does not make sense, but I do not see the error in my spreadsheet. Has anyone ever looked into this? I am happy to forward the excel spreadsheet to anyone who wants to see this unexpected result.