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08/08 - Bi-Weekly Payments
Bi-weekly automatic payments of your mortgage will greatly reduce the time it takes to payoff a 30 year mortgage. By making 26 auto payments yearly, you make 1 extra payment a year, thus accelerating the loan repayment. Actual term reduction will vary according to loan size, payment and other factors such as escrow amounts. |
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07/08 - Tax Savings
Most mortgages offer opportunities for tax savings. Interest paid on mortgages of your home is tax deductible. In addition some closing costs incurred in real estate financing may be deducted as well. Consult your tax professional to utilize these tax savings. |
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06/08 - Two Loan Format
Two loan formats are better when financing more than 80% of your home’s value. In higher percentage loans mortgage insurance is assessed. Unlike your other insurance policies, this only protects your lender. Often your payments with two loans are less than one higher percentage loan with mortgage insurance.
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