Can You Squeeze in an Extra Mortgage Payment on Your Home Every Year?
Posted by Lauren Spencer on
What if you could accelerate the mortgage payment on your Santa Cruz home so that you own your property several years earlier than your 15 or 30 year term? Making your final mortgage payment and owning your house is an incredibly feeling and there is a simple way that you can bring about that rewarding day much sooner.
By making one extra mortgage payment every year, you will be able to pay off your mortgage years earlier without putting a lot of stress on your present day finances. Although it might not seem like a lot, just one extra payment per year can help you to significantly reduce the length of your mortgage.
For example, if you have a 30 year mortgage with a fixed rate, it could be possible to pay off your loan in 25 years instead of 30…
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