Barb Schlinker The Real Estate Voice

Top 7 Ways to Pay Off Your Mortgage Early & Some Hot New ListingsSegment 4Top 7 Ways to Pay Off Your Mortgage Early & Some Hot New ListingsIt’s interesting to note that:How long you plan to stay in the homeWhether or not it makes sense to add Years to the MortgageThe cost of RefinancingThinking of Refinancing? Consider:IF plan to stay, paying off your mortgage as fast as possible is the best way to go:Fact: A typical 30-year mortgage takes 21 years just to pay down LESS THAN HALF of the principal of your loan!Fact: For a $435,000 30-year mortgage at 3.0%, paid monthly with no extra down total amount paid would be $660,231!There are several ways to prepay a mortgage•Make an extra mortgage payment every year•Add extra dollars to every payment•Apply a lump sum after an inheritance or other windfall•Some combination of the aboveThe Banks GET THEIR INTEREST MONEY FIRST!Make Bi Weekly Payments Make an Extra House Payment Each Quarter = $65,000 savings on interest4. Bring Your Lunch to Work, apply extra $100