You have seen how much money you can save over the life of the mortgage. You may be hesitant to start prepaying if you plan to move in a few years. You may think you will not reap the benefits of the savings. If you plan to move in a few years, think of prepaying as a forced savings plan for the next house. Using our $250,000 loan again, at the end of 5 years you would still owe $232,635.64. But if you prepaid $250.00 a month, at the end of 5 years you would only owe $215,193.15! You would then have an extra $17,442.49 in equity to put towards your new home. Remember that $17,442.49 in equity is built-up tax-free. If you were to deposit $250 a month for 60 months into a bank, you would have to earn about 6% in taxable interest to have $17,400. Is your bank currently paying over 6% on your money? Can you earn 6% on an investment as RISK FREE as prepaying your mortgage? Think about it. Prepaying for your next home can be a safe, painless and efficient way of saving.