Barb Schlinker The Real Estate Voice

What are the Top 7 Ways to Pay Off Your Mortgage Early?Segment 4It’s interesting to note that:So, if you are going to refinance you need to consider:How long you plan to stay in the homeWhether or not it makes sense to add Years to the MortgageThe cost of RefinancingBut if you 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! The Banks GET THEIR INTEREST MONEY FIRST! If you are thinking of buying or selling a home, give us a call at 719 301 3900, so here are some ways to pay it down early: Make Bi Weekly Payments – In 1 year you would have made 13 payments and, over time taken 4 years and 4 months off your mortgage Make an Extra House Payment Each Quarter = $65,000 savings on interest 3. Bring Your Lunch to Work, apply extra $100 to mortgage= savings of