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The 20 Year Fixed Rate Mortgage - Part Four On Mortgage Affordability

"There are few things in this life that equal the sensation of being paid up." -- Kin Hubbard, author of Abe Martin's Primer wrote this in 1914.

Think about it! What was going on in 1914?

Postage stamps $.02
Sears homes $1,000 to $3,000
Ford Motor pays $5 a day to workers

Sure today stamps cost $.44 and the rest of the numbers look different too but sentiments are similar. There are few things in this life that equal the sensation of being paid up.

Now consider a 20 year fixed rate mortgage. Eliminating 10 years of mortgage interest. Building equity faster. Allowing retirement 120 months earlier. Saving $87,789 for you.

Ask yourself, What would YOU do with an extra $87,789? For more about building equity faster, go to 20 Year Fixed Rate Mortgage

Your friend, Kate Ford

Realtors can advertise FREE here on Kate's => Real Estate Directory USA

Mortgage professionals advertise FREE here on Kate's => List of Mortgage Companies

Get-Your-Best-Mortgage-Rate.com and Prime-Real-Estate-Articles.com

Posted by Kate Ford Mortgage Translator on 09/09/2009 09:22 AM

Comments (12)

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12 Comments on The 20 Year Fixed Rate Mortgage - Part Four On Mortgage Affordability

SEP

There is still something to be said for the sensation of being paid up. It is a sense of accomplishment, a tidying up of loose ends or feeling of freedom. Love the costs in 1914!

Susan, yesterday I went to mail a letter which I seldom do anymore and discovering my stamps were only .42 made me suspicious I missed the boat on pricing. :) Thanks for commenting. The 20 year fixed rate mortgage is another option for homeowners and home buyers to consider.

Kate: I really love the idea of shorter mortgages as you know. And I really love the idea of a 20 year since most people don't even know this exists.

Oh if all of those first time buyers who are 25 would just read this. At age 40 they could be mortgage free.

I wish I would have done that.

Janet, same thoughts here so I love spreading the word to others. We are on a homeownership mission, aren't we? Kate

SEP

Kate,

I have a catalog somewhere of those Sears homes. One could buy them in the early 1900s and have the whole thing shipped by rail, and then by wagon, to the homesite. Some of these bungalows are still standing.

Mike in Tucson

Oh, and your new blog header is just fffantastic!

Mike in Tucson, using the Sears catalog was similar to shopping for a house online, early 20th century style! As kids, we got the Christmas Wishbook every winter, my parents being farmers!

Glad you like the banner. My husband's comment: Nothing like "old" to emphasize "new". :)

Hi Kate: Saving 87K --> I'm assuming that's per 100,000 ??

SEP

Nice post Kate. I'll have to check out your free advertising invitation. I also tell my clients to figure out what their payment needs to be so they have a zero balance by the time they wish to retire (or when they want to no longer have a mortgage payment.) A simple amortization schedule does the trick.

Good lesson for anyone to learn.

Hi Matt, Details for the $87,789 are in that link but the short answer is $200,000 at 6%. Here is the link again... 20 Year Fixed Rate Mortgage Thanks for dropping in. :) Kate

Rick, Great! You can add your info directly to the List of Mortgage Companies in California but if you'd rather I did, just drop me an email or comment. I can take your info right off your AR profile if you'd like. There are also very smooth calculators with personalized amortization schedules on both of my websites if you ever want to use them. The schedules are printable too. Kate

Kate - I'll gladly take you up on your kind offer - sure - go ahead and use my AR profile. Thanks for amort. schedule tip - thougth I am a pretty fair Excel expert so I do a lot of customized advanced stuff in Excel on the fly...

SEP

Rick, will add your profile and contact information into List of Mortgage Companies in California and email you the link for your perusal. :) Kate

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