New Year Resolutions That Will Save You Money!
By myfirstcho6600809, Jan 7 2020 09:32PM
Start the year off right with these money saving tips that can help you save for a better future:
FAST FORWARD YOUR MORTGAGE
Are you willing to sacrifice the small monthly savings you get with your current 30-year mortgage… for the proverbial “pot of gold” at the end of the rainbow? Then you may want to consider replacing your current 30-year mortgage with a 15-year loan.
This restructuring plan could save you thousands in interest charges over the life of your new loan.
Make Extra Mortgage Payments
As a homeowner, you’ve likely heard that making extra mortgage payments will result in big interest savings. It’s true!
Whether you make one extra lump-sum principle payment a year or divide the extra payment over 12 months each year, you SAVE thousands in interest.
For example, if you have a $250,000, 30-year mortgage at a rate in the mid 3% range, by making just one extra payment per year you could save more than $20,000 in interest over the life of your loan!
Call us today and we will help you calculate how much you can save.
Eliminate Private Mortgage Insurance (PMI)
Lenders usually require private mortgage insurance (PMI), if you don’t put 20% or more down on your house. But they often don’t tell you how to avoid PMI or when to stop paying those premiums!
That’s where we come in. We can determine if you are still paying PMI premiums and, if so, whether they can be stopped!
GIVE US A CALL TODAY!