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5 Tips to Pay off Your Mortgage

  1. Go Bi-weekly, which is EVERY two weeks! NOT twice a month!
  2. Go ACCELERATED which has slightly higher payments! NOT Regular!
  3. Round your mortgage payment up to the nearest $100! A $20 difference, made a $6k difference at the end! For example, if you pay $1145 per month, pay $1200 per month. The extra $55 goes directly to principal and pays off your mortgage sooner!
  4. Do an annual lump sum payment! Use your tax return to pay down your mortgage.
  5. Shorten the time to pay off your mortgage i.e. shorten your amortization but do this with caution. A mortgage is a long-term commitment. Upon renewal, you do not want to be in a situation where your payments have skyrocketed.

Protecting Your Mortgage for the Unexpected

Friday was definitely a crazy day! I saw horrific videos of trees falling onto sheds and ice pellets coming down. The affects are still seen today. Many homes are still without power, roof shingles torn off and trees are in pieces. Three men died due to this storm and it got me thinking about mortgage life insurance.

Future Protection Insurance:

Do you have life insurance in place to protect your surviving loved ones? Is it enough to cover your mortgage and for future income and for the kids future education? When was the last time you reviewed your life insurance with your broker?

Debt Replacement Insurance:

Do you have mortgage life insurance in place for your mortgage debt? Many people feel that the life insurance with work is enough. But life insurance through work is only 1 1/2 times your income and 2 times if lucky. Most times, this is NOT enough to pay off your mortgage.

As a mortgage agent, we must offer mortgage insurance protection. Call me today and let’s chat more.

The 10 Commandments of Buying a Home

The 10 Commandments of Buying a Home

Buying a new home? Here are the 10 tips to help you qualify for a mortgage.

  1. Thou shalt not change jobs or quit your job
  2. Thou shalt not become self-employed
  3. Thou shalt not buy a car, truck or van
  4. Thou shalt not buy furniture
  5. Thou shalt not spend your down payment money
  6. Thou shalt not use credit card excessively
  7. Thou shalt not be late on your credit card
  8. Thou shalt not omit debts
  9. Thou shalt not originate inquires on your credit check
  10. Thou shalt not co-sign a loan for anyone
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Check back later for more resources and strategies to build your financial and real estate portfolio with budgets, cash flow and mortgages.

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