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We Take Good Care Of Referral Clients! "I'm Happy That Clients I Referred Were Able To Sell Their Home And Purchase Two Separate Homes In A Very Short Time Frame..." Tim Doherty, Bank of America Home Loans Read Quote > View All Quotes >
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Devin Doherty
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Luis A. Ceballos - Bay Cities Termite
5606 Rawlings Ave., South Gate, Ca. 90280

Financing Your Home >Your Mortgage
Many homeowners overlook the mortgage payment as a tool for financial management. They get the mortgage, move in, make the payments, and pay off the loan eventually. Smart homeowners know that by properly adding to their monthly payments, even by a small amount, they can substantially reduce the term of their loan, not to mention the total interest they will pay. In fact, prepaying one full year of a standard mortgage can save thousands of dollars in interest. The key is to do it properly and to find the right lender for whom prepayment is not a problem.
More progressive lenders allow the option to add money to the monthly payment which goes directly to the principal. How much should you add? It's largely a personal decision, and it depends on your cash flow. But be mindful of the fact that the mortgage interest rate is probably the lowest interest loan you will find, so don't short yourself with prepayment only to run up credit card debt!
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| Q |
What island in the St. Lawrence River was given away on a television game show in 1964?
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| A |
Price is Right Island was given away by Bill Cullen on "The Price is Right." |
See More Real Estate Trivia > |
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Devin Doherty Doherty Real Estate Group 27101 Puerta Real #150 Mission Viejo CA, 92691 Toll Free: 866-338-4677 Fax: 877-338-4680 Email: Devin@DohertyRealEstateGroup.com
"Come see why three generations of experience, the latest technology, and a truly hands-on team can give you an unbelievable edge in this market!"
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