Paying off your mortgage is one of the biggest financial goals of most homeowners, and retiring debt-free can certainly give your golden years a greater sense of financial freedom and stability. Whether you're nearing retirement age or are just looking to reduce your largest debt load more quickly, here are some great tips for paying off your mortgage faster!
Principal Versus Interest Essentially, to pay off your mortgage you have to reduce the principal owed on your property. There are really two ways you can do this without dramatically reducing your monthly … (3 comments)
Calculating Your Monthly Mortgage Payments One of the most important factors to consider when buying a new home is affordability. As a general rule, mortgage payments should not exceed 25-30 percent of your monthly take-home pay. The best way to know what you can afford is to determine the possible payment range by comparing the price of the home with other essential ingredients.
Figure Out How Much You Want To Borrow Your first step to calculating your monthly mortgage payment is knowing how much you want to borrow. This can be determined by subtracting your down payment … (4 comments)
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Diana Dahlberg
Real Estate in Kenosha, WI since 1994 262-308-3563
Paying Off Your Mortgage Faster
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