If you need assistance, please call 310-770-4121

Ways to Pay Off Your Mortgage Early

Wednesday, February 23, 2022   /   by Tara Turner

Ways to Pay Off Your Mortgage Early

Ways to Pay Off Your Mortgage Early

Thinking about paying off your mortgage early? Paying your mortgage ahead of time can help you make some great savings. How? Let's take a look. 

Regularly adding $100 or more to your monthly payments can cut down your mortgage years significantly. If your mortgage permits bi-monthly payments, consider making a payment every two weeks, which means you'll be able to make 26 payments per year, way more than the average 12 payments you make through regular monthly payments. 

Received a bonus, tax refund, or inheritance? Put your lump sum to good use by dedicating it to your mortgage payments. Consider refinancing into a shorter term, which will help you save on your interest rates. 

Follow any of these proven strategies and save thousands of dollars. Check with your lender about your prepayment terms and penalty charges. 

If you have any questions relating to buying or selling a home, please give us a call at 909-255-1070. Mitchell Stein License# 0208163

Stein Team Realty - Keller Williams College Park
Mitchell Stein Dre# 02081632
2440 W Arrow Route #5C
Upland, CA 91786
DRE# 01885348

Based on information from California Regional Multiple Listing Service, Inc. as of May 22, 2022. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
This site powered by CINC: www.cincpro.com