How to save on Interest in mortgage payment?

How to save on Interest in mortgage payment?. Behind on Mortgage Payments

How to save on Interest in mortgage payment? video duration 1 Minute(s) 51 Second(s), published by Laddi Dhillon Top Realtor at RE/MAX Gold Realty Inc on 21 03 2019 - 21:58:32.

There are a few easy ways to make extra principle payments that can save you a ton of money in interest expenses and get you mortgage-free sooner than you 3 Tips To Lower Your Mortgage Payment After It Went Up Your house/mortgage payment has gone up and you want to lower it agin, What can you do?

OnPoint Community Credit Union celebrates local teachers with the OnPoint Prize
Two teachers will have their mortgage paid for a year and $2500 will be .

There are a few easy ways to make extra principle payments that can save you a ton of money in interest expenses and get you mortgage-free sooner than you thought possible. Here are a few simple strategies you can use:

1. Round your monthly payment up
The results of this simple strategy can save you a fortune and drastically reduce the length of your mortgage.

As an example, if your monthly mortgage payments were $734 dollars a month, but you rounded it up to $800 per month, you would save more than $48,000 in interest payments, and reduce the length of your mortgage by 7.5 years!

2. Make One Time Pre-Payments Using Your Income Tax Refund
This is an easy way to save money and shorten your mortgage. For example, if you have a $100,000 mortgage, and you have a $1000 tax refund this year, you take to apply that refund to your mortgage. Over time, this will save you more than $8600 and shave 1 year and 1 month off your mortgage! That's another amazing result from a simple strategy.

3. Choose a 15 Year Mortgage
If you can afford it, you are far better off getting a 20-year mortgage instead of 30. It won't cost you much more, and the interest savings are truly incredible.

Using these strategies is the easiest way to reduce your interest expenses and shorten your mortgage period.
See detailed article at http://www.houseinbrampton.ca/buyers/default-articles/save-on-interest/

Please feel free to contact us for any real estate related questions.

Laddi Dhillon(Sales Representative)
RE/MAX Gold Realty Inc, Brokerage
Ph: 905-598-0725
http://www.HouseinBrampton.ca