How to Save Big Money on Your Mortgage

Did you know it’s possible to save huge money on your mortgage? As much as 40-percent less interest over the term of your mortgage is not unrealistic. And this adds up to big bucks.

It’s simple to do. Here’s how.

By increasing your repayments, even slightly, the impact on your interest costs will be massive. The key is to repay capital, not interest.

For example, on a $200,000 mortgage with an interest rate of 5.25%, simply by paying $1348 per month instead of the minimum $1104 (just an extra $244 a month), the mortgage will be paid off in 10 years instead of 20, saving you $74,000. Imagine what you could do with all that extra money!

To do this without being penalised by your bank, you need the right payment structure when you first take out your mortgage. However, it is possible to move to a different payment structure even if you already have a mortgage. But for that you need sound financial advice. And that’s exactly what I can provide.

Start saving yourself some big dollars by calling me today to arrange a time to chat.

(Source: Mortgage Link newsletter) 

© KEPA 2015

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