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
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
