Hey aspiring homeowners!
Ready to pay off your home faster and save over $300k in interest? These 3 simple hacks can make it happen! And guess what? Anyone can do this!
Let's break it down using a $500k home on a 30-year fixed mortgage at 6% interest, where your monthly payment is around $2907.
1️⃣ Bi-weekly Payments:
Make payments every two weeks! With 26 bi-weeks in a year, that's an extra payment annually. Result? Slice off $128k in interest and shorten your mortgage by 6 years.
2️⃣ Quarterly Extra Payments:
Add one extra payment each quarter! That's 4 additional payments annually, slashing around $300k in interest and reducing your mortgage by 13 years.
3️⃣ Apply Yearly Bonuses to Principal:
If your annual salary bonus (averaging 5.6%) is about $7800, put it towards your home's principal! This tactic can knock off 11 years from your mortgage term and save a whopping $240k in interest.
Ready to supercharge your path to debt-free homeownership? These hacks are within reach for everyone! 🚀💡
Curious to learn more about accelerating your journey to a debt-free home?
William A Ledesma, Sir Loan Officer
Let's dive into the details together!
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