Most people think they’ll have a house payment and a car payment for the rest of their lives but it doesn’t have to be with a plan and a little discipline. The plan is to make additional principal contributions to a fixed rate mortgage to shorten the term and save tens of thousands in interest.
If a person does make a decision to regularly pre-pay their mortgage, it will be their responsibility to verify that the lender is applying the money to the principal each time as opposed to being placed in the reserve account for taxes and insurance.
In today’s market, a savings account pays around 0.5% or less. Even with the low mortgage rates available, there is still a considerable savings. People who might need the funds in the near future should carefully consider this option due to the difficulty to access equity easily from one’s home.
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
Homeowners are familiar that they can deduct the interest and property
"I would like to thank Kris Morin and her mother Rosemary Hunt Economou
for their superior assistance in selling my condo. They were both highly knowledgeable, professional, friendly, and attentive to my needs. They went the "extra mile" to help me in every way possible. To my amazement, my condo sold just a few days after I listed it with them. I am extremely happy that I chose both of them as my realtors. It was truly a marvelous experience! I would strongly recommend them to any one needing to sell or buy a home. Kris and Rosemary, from the bottom of my heart, many, many thanks, again! "