Money Saving Advice: Mortgages

Mortgages Advice

Many of us are homeowners – paying our mortgages month by month. But did you know there are a few tips in regards to home owning, that could save you tons of money and end up paying your mortgage off quicker than expected? Here at Hacker, we wanted to share a few pro tips on how you can simply take advantage of these offers, and end up saving lots of money in the process.

Refinance

Refinancing basically means you adjust the amount you will be spending in terms of your interest rate or you shorten the amount of time of your mortgage term. If your interest rate has dropped, in many cases you will be able to pay the same amount but for a much shorter period.

Pay Extra Upfront

Most of the time, you pay your interest first when you start making payments on your mileage. This is because the bank will want their money back before you start working on paying off the principal. With paying extra at the beginning,  you will end up saving thousands of dollars in what you would’ve paid and interest.

See An Accountant

Let a professional look over your monthly and yearly finances, and let them help you see what costs you could cut from your expenses.

Looking to speak to an accounting professional regarding mortgages? Give us a call at 602-375-5251.

Chris Hacker
Chris has been working in the bookkeeping and accounting field for over 15 years preparing business, income and payroll taxes. Chris has a bachelor’s degree from Arizona State and is an Enrolled Agent with the Internal Revenue Service.