Can I Pay Off My Loan Ahead Of Schedule?
Usually, Yes. Like the guy in the video says, by sending in extra money each month or making an extra payment at the end of the year you can accelerate the process of paying off the loan.
When you send extra money, be sure to indicate that the excess payment is to ... read more
What Is Included In A Monthly Mortgage Payment?
The monthly mortgage payment mainly pays off principal and interest. But most lenders also include local real estate taxes homeowner's insurance, and mortgage insurance, if applicable.
If you are refinancing compare what is and isn’t included in your financing op... read more
How Does The Interest Rate Factor In Securing A Mortgage Loan?
As you’ll see in the video, a lower interest rate allows you to borrow more money than a high rate with the some monthly payment.
Interest rates can fluctuate as you shop for a loan so ask lenders if they offer a rate "lock-in" which guarantees a specific interest ... read more