Reduce Your Mortgage Interest Painlessly!
Since interest is charged on the outstanding balance of your loan, you can reduce the total interest you pay by using the following tips:
1. Pay your mortgage early whenever you can.
2. Make additional principal payments. Even small amounts will add up over time and reduce the interest you pay.
3. Don�t pay your mortgage late. The late fee assessed is larger than the amount you would pay to overnight your payment to the Mortgage Company. A 5% penalty on a loan payment of $1,000.00 would cost you $50.00. You can overnight the payment, save dollars and your credit rating.
4. A mortgage calculator can help you determine how much additional to pay based on the length of time you wish to reduce from your loan.
Contact a mortgage advisor in three easy steps...
...and speak to an independent mortgage broker today.
|