*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
One insider tip that can shave time off of your mortgage is paying one extra mortgage payment each year. In doing so, you can cut down up to five years on your mortgage!
Starting out, it may be daunting to think that you'd have to pay towards your mortgage debt for fifteen to thirty years. Understandably so. Although it may seem like a ton of time with that weight on your shoulders, it's important so stick with the plan. Remember this old adage, "slow and steady wins the race".
For those who are extremely disciplined and goal oriented, it may be worth it to look into trying to pay off your mortgage a few years earlier than expected.
One way to do this is by paying one extra mortgage payment per year towards your home. By doing so, you'll be able to earn equity quicker and trim down the years of your loan. Can you imagine reaching the ten year mark, or the twenty five year mark of your loan and not having to worry about mortgage payments anymore? It may not seem like a ton of time now, but the reward when that time arrives will leave you patting yourself on the back.
For more tips on how to make mortgage payments end quicker with your individual situation, please contact me! I'd love to run through numbers with you when it comes to purchasing your dream home!
*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
Brayden Ramsay NMLS #1997195
Momentum Loans NMLS #1606597
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