For years, banks and financial advisors have been recommending that you pay extra cash into your mortgage, to cut down the huge interest amount and reduce the period over which you pay back the loan.



For example, if you borrow $200 000 over 30 years at a rate of 5%, your monthly repayments would be around $1074. Over 30 years, you would actually pay $1074 x 360 (months), which is $386 640.

That’s $186 640 in interest!



If you could find an extra $246 a month, and pay $1320 a month into the mortgage, you’d cut 10 years off the repayment period Read more

American veterans currently serve and have served their country for modest pay and limited financial security. In some cases, a prolonged period outside of the private workforce, or injuries incurred while serving in the U.S. armed forces have resulted in diminished employment and earning potential, leaving some veterans unable to afford a home under regular mortgage and home loan circumstances. That is part of the reason why the united Read more

Most of us think of our home loan as a mortgage, when that isn’t particularly true. When a borrower agrees to pay a lender a certain amount of money, under certain conditions, the borrower will sign a promissory note. A lender will then require the borrower to sign a mortgage, as a security tool to give the lender a legal form of security. A mortgage is a written document to protect the lender’s interests in your property. Therefore, a mortgage is not a loan.

A mortgage is between two parties, you the “mortgagor” and your lender. The mortgage is a document that creates a lien on your Read more

Even if it’s not your first time buying a home, you should familiarize yourself with the whole process. Unless you are an investor, you probably don’t do it to often.



Some things to consider when buying a home:

Time

It can take time to find a great home. If you’ve only begun your search today, don’t expect to find a home tomorrow. Buying a home is like working on a large project. You’ll need plenty of time. But if Read more

Purchasing a house can be an exhilarating experience for everyone in the family. Many different options are open in finding a home. If you choose to have the assistance of an agent, there are things to be aware of. The real estate agents are professional, however they may leave vital information out of the conversations. There are some imperative factors that you must know in order to make wise decisions.

The most important thing to remember about a real estate agent is they are first and foremost an over glorified salesperson. Their goal is to sell a house. They will go through all Read more