| Think twice before you opt for a mortgage that | | | | brown-bagging it. And instead of coveting that new car |
| extends fifteen, twenty or even twenty five years. | | | | in the lot on the corner, save to pay off your mortgage |
| Instead, check a mortgage calculator and shoot for a | | | | first. |
| ten-year mortgage to start. By tightening your belt and | | | | Living mortgage free will enable you to enjoy those |
| cutting back on extras, it is even possible to be | | | | extras, in addition to obtaining peace of mind, less |
| mortgage free in five years or less. How can this | | | | stress worrying about retirement and health care |
| happen? In most instances, it helps if you've made a | | | | costs, and enable you to own your house free and |
| large down payment on the home in question, and | | | | clear. You can use a mortgage calculator to play with |
| received a good loan rate. | | | | the numbers, and figure out how much extra will save |
| The best way to pay off a mortgage early is by | | | | you over the life of your loan. With house appreciation, |
| paying extra on your monthly mortgage payments. | | | | you may be able to reap even greater benefits if and |
| Using a mortgage calculator, you can determine how | | | | when you decide to downsize. You can use the |
| much your mortgage payments will be for the life of | | | | money you've made on the sale to buy a smaller |
| your loan. Making extra, regular payments every month | | | | house outright, leaving your mortgage-due days behind |
| can save you tens of thousands of dollars over the | | | | forever. |
| life of your loan. If you can save $25 extra a month, | | | | Even if you can't be consistent in paying extra every |
| and apply $100 extra a month to your mortgage | | | | month, try to pay more than the minimum due |
| payment, you can save about $80,000 in interest | | | | whenever possible. Make up for short months when |
| payments on a $120,000 mortgage! | | | | you can. Even if you like to write off your interest |
| In addition, using the aid of a mortgage calculator, you | | | | during tax time, you'll benefit more by paying your loan |
| can reduce your loan by ten years! Apply the same | | | | off early and living mortgage free. Home mortgage |
| basics when you start with a ten to fifteen year loan | | | | interest tax breaks may net you about $6,000 in |
| and using the same principles, it is possible to pay off | | | | write-offs, but being debt free is, well, priceless. |
| your mortgage and become mortgage free years | | | | A mortgage calculator will help you to determine |
| before you thought such an event was possible. | | | | exactly where you stand with your mortgage. Even if |
| If you can't spare $100 a month, even $50 or $25 will | | | | you've been paying the minimum payments on your |
| help to pay your house off early. Adding an extra $50 | | | | mortgage for years, there's no reason why you can't |
| to your payment will save you roughly $52,000. Not | | | | start paying extra now. If possible, try to refinance to a |
| exactly chump change, is it? In addition, with those | | | | lower interest rate, if it doesn't kick up your loan too |
| extra payments, you'll knock between 5-6 years off | | | | much. In addition, make sure that your mortgage lender |
| your mortgage. Only have about $25 a month to | | | | won't penalize you for early prepayment and find out if |
| spare? You'll still save an amazing $30,000 and take | | | | they have a cap for the most you can pay over the |
| off a year on your payments. | | | | minimum due amount. Even though you have a |
| Finding the extra change is something that most | | | | mortgage, doesn't mean it has to own you. You can |
| homeowners can do if they cut out going out to dinner | | | | take charge of your mortgage and live mortgage free |
| every week to once a month. Instead of purchasing | | | | with a little discipline, a little patience, and a few extra |
| meals in restaurants every day at work, try | | | | bucks every month. |