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How Long Do You Want To Pay

By
Real Estate Broker/Owner with PMI. Destin

Understanding mortgage terms is almost as important as understanding the term of your mortgage.  The term of a mortgage is just like the term of a school.  It is the length of time that the mortgage will last.  

There is no consensus but my feelings are that at some point in time in you life you want to own your home mortgage free and clear.  

But don't stress,

I'm here to help you understand it all.

Just leave me a comment with any questions you might have!

#thehelpfulagent #home #houseexpert #house #listreports #themoreyouknow #icanhelp #mortgage #finances #realestate #realtor #realestateagent #househunting

Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

Thanks for sharing Peter!!!

Understanding mortgage terms is almost as important as understanding the term of your mortgage.  The term of a mortgage is just like the term of a school.  It is the length of time that the mortgage will last.  

May 21, 2024 05:48 AM
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

Peter, chances are the majority of people will move before paying off their mortgage. For some people it is about gaining the most equity while you're in the house. 

But, you're right, some will want to pay it off in their lifetime. It would be smart not to have a big mortgage when you retire if your limited budget doesn't leave you room to enjoy life.

May 21, 2024 06:44 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

great information. Thanks for sharing it.

Have a super fantastic week!

Bill Salvatore, Realtor- Arizona Elite Properties

May 21, 2024 08:37 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Peter, I remember some years ago they where talking about 40 years loans.  Now the prices are so high but I do not hear of 40 years.

 

May 21, 2024 09:36 AM
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
The Grit and Gratitude Agent

So true about terms and learning how to reduce those terms can provide less stress when entering retirement years. 

May 22, 2024 05:38 AM