Mortgage Blog
How to save on your Mortgage
March 19, 2024 | Posted by: Sarabjit Dhuna
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It's better from the start that you get the best and lowest rate possible so you can save thousands of dollars. We have access to lenders who can give you the lowest rate possible. If you are looking for a mortgage for your first home, then get the best mortgage rate right now before it increases.
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Feeling regretful to pay higher mortgage rate then you can contact me anytime and especially at time of renewal. We can give you the best mortgage rate possible.
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Consider putting a down payment of 20% of the home price so you can reduce monthly payments and the size of the mortgage as well. In addition, you don't need mortgage insurance because you already give down payment of 20%. you can calculate with our tool
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You may eligible for 30-year amortization period of the mortgage if you add 20% down payment. Your monthly mortgage payment will be reduced, and you can have immediate saving. Although, you will pay more interest as the length of term is increased.
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If you have debt in your credit card at a higher interest rate then you can refinance, which means consolidating all your debts in one single loan so you can save on interest. Although you can have higher monthly payment.
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You can change the mortgage monthly payment into a bi-weekly payment so, in the long run you are paying less interest. You can pay out your mortgage quickly.
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You can save on mortgage and interest by paying lump sum on your mortgage principal. The lower principal of the mortgage means you pay less interest as well.
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You can get HELOC for extra funds to invest in renovation and home upgrades instead of getting private loans. You have to pay a higher interest rate for private loans.
- You can Contact me for more information
- Check out our other blogs related mortgage and if you are looking for any property then we also have website for pre-construction condos and home
