Thinking about paying your mortgage early? Paying your mortgage ahead of time can help you make some great savings. Now let’s take a look regularly. If adding $100 or more to your monthly payments can cut down your mortgage years significantly, consider making a payment every two weeks, which means you’ll be able to make 26 payments per year. It’s a lot more than the standard 12 payments you make each month.
Read Also: What Is Prepaid Interest?
Monthly payments received a tax refund or inheritance as a bonus. Put your lump sum to good use by dedicating it towards your mortgage payments. Consider refinancing to a shorter term, which will help you save on your interest rates.
Follow any of these proven strategies and you will save thousands of dollars. Check with your lender to learn more about your prepayment terms and penalty charges.
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One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:
Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*
To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!
*Agardi Team and the seller have to agree on the price and the closing date.