How To Save Thousands Of Dollars In Interest And Pay Your Mortgage Off Years Sooner

One of the best things you can do -- if you can afford it -- is to start out
with a 15 year mortgage instead of 30. It's actually not that much more
expensive, and the interest you save is incredible.

With the same $100,000 mortgage at 8% over 15 years, your payment would be
about $200 more ($955) and you would be paying $72,017 in interest over the
life of your mortgage instead of $164,160!

That's worth considering.

To try our online mortgage calculator click here!

First of all, don't apply for any new credit cards or consumer loans.

Don't go down to the furniture store and take them up on the "No interest,
no payments, for one year" financing program -- and of all things, don't go
out and finance a car!

You can do all of these things after you buy your house and get your
mortgage, but for your own sake, don't do it before. Buying things on credit
not only hurts your credit score, but it also leaves less money for you to
use as a house payment.

And lenders look at this figure also to determine how much money they will
lend you, and how much they will charge you to lend it.

So wait until after you've bought your home and moved in to get that new
couch or big screen TV-- And there is another reason to wait.

After you buy your home, you can get a loan for up to 125% of your home's
value to buy whatever you want.

And when you get a loan against your home, all of the interest you pay is
tax-deductible!

Here's A Way You Can Save Thousands Of Dollars In Interest
and Pay Your Mortgage Off Years Sooner!

Most people think when you get a mortgage you're stuck with it for 30 years,
but what they don't realize is by usingĀ  a couple of easy and painless ways
to make some extra principle payments you can cut years off the life of your
mortgage and save thousands of dollars in needless interest costs.Here are a
couple of easy strategies you can use:

1. Round up to the nearest hundred
This is an easy strategy to take advantage of, and the results are dramatic!

Let's say you have a mortgage of $100,000 over 30 years at 8% interest. The
monthly payments would be about $734 dollars a month. Now, let's see what
would happen if you rounded that payment to the next $100 by increasing your
payment by $66 extra each month.

Just this one simple strategy will save you over $48,000 in interest
payments over the life of your mortgage, but it will also shorten the length
of your mortgage by 7 1/2 years!

2. Use Your Income Tax Refund To Make One Time Pre-Payments
Let's say you have that same $100,000 mortgage, and you have a $1000 tax
refund this year. [very possible with your new homeowner deductions] If you
take that $1000 and apply it to your mortgage...you'll save over $8600 and
shorten your mortgage by 1 year and 1 month! Not bad for a simple one time
pre-payment.

3. Start Out With a 15 Year Mortgage
One of the best things you can do -- if you can afford it -- is to start out
with a 15 year mortgage instead of 30. It's actually not that much more
expensive, and the interest you save is incredible.

With the same $100,000 mortgage at 8% over 15 years, your payment would be
about $200 more ($955) and you would be paying $72,017 in interest over the
life of your mortgage instead of $164,160!

That's worth considering.

To try our online mortgage calculator click here!

Please call me @ (972) 745-0406 for more information.
Preeti Talati