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3 Ways to Save $100K on Your Next Home - No Joke!

Brian Slivka

I love Colorado. We're talking serious love here...It's my home. Has been for the last 33 years...

I love Colorado. We're talking serious love here...It's my home. Has been for the last 33 years...

Sep 30 3 minutes read
 

Saving $100K on your next home sounds crazy, right? 

Savings  like this are life changing and could allow you to do so much more with  your future plans. With just a few tweaks to your game plan, it is  actually possible.

Paying  extra on your mortgage each month will save you thousands of dollars in  interest charges and cut multiple years off of your home loan ✂ 💰.

Paying  down the principal quicker on your home does not decrease your minimum  payment each month. However, it will shorten the life of the loan and  save you more money than most can save on their own.

Here are three different strategies to pay more each month, resulting in six-figure savings!

Watch the video below! 







1. Increase Your Monthly Payments by One-Twelfth - that's only  0.083333333 (can't be all that bad, right??) 

Some  people do not know this, but the largest part of your early year  payments go towards paying interest. If you pay a little extra on your  principal now, this will make a significant amount of savings down the  road.

The  additional 1/12th of your monthly payment will decrease the balance on  your current principal and likely avoid some of those interest charges.


2. Make One Extra Payment Per Year

If you  get an annual bonus or a nice size tax return check, use it to pay one  extra mortgage payment each year. You will cut the life of the loan  significantly and save thousands in interest.


3. Pay Half of Your Monthly Payment Bi-Weekly

This  takes a little more effort, but you could authorize an automatic  transfer from your checking account to savings account bi-weekly. You  will have made 26 half payments, which will become 13 full payments at  the year's end. This is one extra month's payment.


How Much Can You ACTUALLY Save?


There are several fantastic online mortgage calculators that can help you figure out how to knock EVEN MORE off your overall payments and save you THOUSANDS!! Check out this one I found - it really gives a great in depth analysis of savings/equity gain, etc:


CLICK HERE TO FIGURE OUT HOW TO SAVE SO MUCH MORE!! 


Want more money saving tips for Real Estate?

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