How To Pay A Mortgage Off Early
We can give you the information and guidance as how you can best minimize the cost of borrowing over the long term and become mortgage free quicker than you might ever think is possible. The cost of interest charges on mortgages over the years is very high, (just look at your mortgage illustration).
Typically you could pay $400,000 for a house that you borrowed $200,000 for. That is down to one thing, the cost of the interest that you pay on the money that you borrow. And remember, you are paying out of income that you already paid taxes on so it takes an even bigger chunk of your earnings over the years.
You can massively reduce this cost with a combination of the right mortgage, regular periodic reviews and a debt elimination strategy and get that mortgage paid off well within the original term.
It’s possible to save literally thousands of $s and minimize the damage so to speak. The trick is to combine mortgage reviews with a very specific and intentional debt elimination strategy, which will achieve this result.
There’s no charge for sharing this information with you, it’s an added benefit if it’s of interest to you when when I provide mortgage advice. It’s just another facet in the processes if you want it.