Learn how to reduce monthly mortgage payments to save money on today’s Real Estate Minute with Ilyce Glink.
As a home owner you should always take the initiative to find low-risk ways to reduce your mortgage payments.
By making one extra payment every year on your mortgage, you could substantially reduce your total payments.
According to AOL’s business insider, if you owe $100,000 on your 30 year mortgage, making 13 payments per year instead of 12, you’d save up to $20,000 in interest and shave 7 years from the loan, helping to pay off your mortgage faster.
If you’re not living paycheck-to-paycheck and can afford to spend the extra money, your personal return on investment is impressive.
Let’s rebuild America, one house at a time.