Payoff mortgage

[rockrv22]

Me and the wife are hammering out our mortgage!!! Down to $29000. Want it done by time baby comes in june. Any advice on how to really hammer it?

[Jluke]

I would wait until after the baby arrives before paying off a low mortgage balance of 29000...

that 29000 may come in handy for other things.

otherwise you have 29000 divided by 4 payments.... so 7500/month if you want to go that route..

just be sure you have a decent emergency fund if you payoff before the arrival.

congrats!

[rockrv22]

How much would you think for an emergency fund?

[Jluke]

I hold a minimum of 30k in cash savings.

General rule is 6 months of expenses. Some go to 12 months.

I think of it as a dollar amount that feels good to me.

[rockrv22]

Thanks alot!!!