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.
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.