Cut 8 Years Off Your Mortgage
Manage episode 152726695 series 1069374
内容由William Bustos提供。所有播客内容(包括剧集、图形和播客描述)均由 William Bustos 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal。
Looking for a Salt Lake City home? Click here for a full home search
Selling Your Salt Lake City home? Get a free home price evaluation
Right now, mortgage interest rates are at an all-time low. It’s a great time to buy a house. In fact, your buying power may never be higher. It is projected that the Fed will raise interest rates soon, so it’s important to buy while rates are still historically low.
Once you buy a home and get that 30-year mortgage, there is one simple thing you can do to shave eight years off your mortgage. Simply take the amount of one of your monthly mortgage payments, divide it by 12, and add that amount to your mortgage payment each month.
When you do that, however, make sure that you specify that the money should go towards the principal. Otherwise, the bank may put it towards the interest. Still, increasing your monthly mortgage payment by 1/12 is a great way to pay down your mortgage faster, as it doesn’t increase your normal payment by much.
12集单集