Everyone that has a mortgage is looking at that finish line so they can live mortgage free. The thought of not paying a mortgage is quite appealing for sure. But is paying your mortgage down fast the best thing to do? The easiest way to pay your mortgage quicker without even knowing you are paying … Continue reading Is Paying Your Mortgage Off Fast The Best Option?
To make this easy let’s use a mortgage is $300,000. If we amortize this over 25 years (maximum) and sign a 5 year term at 3.44%. This would make our monthly payment $1,488.33. Lets also say the rate does not change over the amortization. So, would a regular bi-weekly payment pay off your mortgage sooner … Continue reading What’s the difference between biweekly and rapid (accelerated) biweekly?
A lot of people go into a mortgage and will select a bi-weekly option to match up with their pay periods. This makes it very easy, come payday your pay goes in, your mortgage comes out. The question is, are you on the right bi-weekly plan? It's example time again. The average home price in … Continue reading What Is The Difference Between Bi-Weekly And Rapid Bi-Weekly?