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How to Save Thousands of Dollars in Interest and Pay Your Mortgage off Faster

That’s why it’s best to wait until after you’ve bought your home to go shopping for furniture and appliances. There is also another reason to wait.Once you’ve bought your home, you can get a loan for up to 100% of your home’s value to buy anything you want.If you learn to play by the rules of the lenders’ game, you can get the best credit score possible, which improves the odds that you can get the home of your dreams.

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Round your monthly payment up Faster

The results of this simple strategy can save you a fortune and drastically reduce the length of your mortgage. As an example, if your monthly mortgage payments were $734 dollars a month, but you rounded it up to $800 per month, you would save more than $48,000 in interest payments, and reduce the length of your mortgage by 7.5 years!

Make One Time Pre-Payments Using Your Income Tax Refund

This is an easy way to save money and shorten your mortgage. For example, if you have a $100,000 mortgage, and you have a $1000 tax refund this year, you take apply that refund to your mortgage. Over time, this will save you more than $8600 and shave 1 year and 1 month off your mortgage! That’s another amazing result of a simple strategy.
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Choose a 15 Year Mortgage

If you can afford it, you are far better off getting a 15 year mortgage instead of 30. It won’t cost you much more, and the interest savings are truly incredible.

If you have a mortgage of $100,000 at 8% interest over 15 years, your monthly payment would be about $200 more, but you’d end up saving $92,083 in interest over the life of your mortgage!

Using these strategies is the easiest way to reduce your interest expenses and shorten your mortgage period.

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Testimonials

We bought our first home with the help of these astonishing experts. Estro Groups was generally responsive and patient even at end of the week and late night. Regardless of the number of inquiries that we've posed! They taught us in the exchange ...
by Gurpreet Sandhu
Customer
My husband and I had a dream of downsizing from our house in Ontario into a small condo closer to where we work and play in Portland. Estro Groups and his skilled team helped make that dream a reality. The sale went smoothly, and we just closed on an ideal new place we're excited to call home.
by Aakaanksha
Customer
I recently sold a house with Estro Groups and while this can be a very stressful process, I felt 110% confident by partnering with Estro Groups. He was candid, provided great feedback, helped explain clearly all details, and managed the actual sale negotiation brilliantly. In addition, he was highly responsive to every one of my questions, no matter how small.
by Amit Sharma
Customer
My husband and I had a dream of downsizing from our house in Ontario into a small condo closer to where we work and play in Portland. Estro Groups and his skilled team helped make that dream a reality. The sale went smoothly, and we just closed on an ideal new place we're excited to call home.
by Lisa
Customer

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