mortgage simple definition: How To Pay Off a Mortgage

How To Pay Off a Mortgage

How To Pay Off a Mortgage. USA Mortgage APR Guarantee Program

How To Pay Off a Mortgage video duration 3 Minute(s) 56 Second(s), published by The Dave Ramsey Show on 24 04 2018 - 15:30:02.

Paying off your mortgage in 5 to 7 years can help you change your life
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Paying off your mortgage in 5 to 7 years can help you change your life. Find out your mortgage options here: https://goo.gl/1up9dK

SUMMARY

In this video, Dave shares how to pay off your mortgage early. Dennis in Charlotte, North Carolina, just bought a house with a 30-year mortgage and a 3.6% interest rate. He’s considering refinancing to a 15-year mortgage and taking his money out of mutual funds in order to pay off his mortgage fast.

Dave suggests refinancing to a 15-year mortgage to reduce Dennis’ interest rate, which would save him money in the long run. This means Dennis could pay off his mortgage in 5 to 7 years!

If you want to get serious about paying off your mortgage early, you have to commit to paying a little extra on your regular payment in order to put a dent in your principal balance. Adding even just one extra payment each year can take years off your mortgage!

RESOURCES

Use Dave’s Mortgage Payoff Calculator to see how fast you can pay off your mortgage: https://www.daveramsey.com/mortgage-payoff-calculator

Get some ideas on easy ways to cut costs and pay off your mortgage in 5 to 7 years: https://www.daveramsey.com/blog/how-to-pay-off-mortgage-early

Have other questions about mortgages? We’ve answered them here: https://www.daveramsey.com/blog/mortgage-questions

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