how best to payoff your mortgage
What if you can payoff your mortgage quickly in about 1/3rd of the time without refinancing or changing your current monthly payment or cash flow position:
- Would this interest you?
- What would early payoff mean to you?
Early Payoff Means Better Security
having your mortgage free and clear can prepare you for an unexpected financial emergency if you should lose your job, health, or be required to finance an unplanned event.
Early Payoff Means Big Savings
by paying off your mortgage early, you can save a lot of money by not having to pay all that interest to the banks see sample below:
Mortgage Loan Rate Term $300,000 6.00% 360 Months Monthly Payment: $1,798.65 Total Interest Paid after 360 months: $347,514.00 Interest Paid with 10-11yr Mortgage Payoff: $117,000.00 Interest Savings (approximately): $230,514.00
Early Payoff Means Better Planning:
what could you do with the extra money if your mortgage payment was over how about saving for college, saving for retirement, taking some travel, etc.
View the illustration below:
Home Equity Uses-Tips