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Real Estate Tips
Financing Your Home >Your Mortgage

Many homeowners overlook the mortgage payment as a tool for financial management. They get the mortgage, move in, make the payments, and pay off the loan eventually. Smart homeowners know that by properly adding to their monthly payments, even by a small amount, they can substantially reduce the term of their loan, not to mention the total interest they will pay. In fact, prepaying one full year of a standard mortgage can save thousands of dollars in interest. The key is to do it properly and to find the right lender for whom prepayment is not a problem.

More progressive lenders allow the option to add money to the monthly payment which goes directly to the principal. How much should you add? It's largely a personal decision, and it depends on your cash flow. But be mindful of the fact that the mortgage interest rate is probably the lowest interest loan you will find, so don't short yourself with prepayment only to run up credit card debt!

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Real Estate Trivia
Q 
What is the oldest U.S. capitol in which a state legislature still meets in its original chambers?

A 
New Hampshire's State House
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The Hellickson Real Estate Team,  real estate agent and broker for Seattle, Tacoma and Western Washington, Washington home listings, property and land for sale - NUMBER1EXPERT(tm)

Michael Hellickson
Hellickson Real Estate Team

PO Box 7617
Bonney Lake, WA 98391
Direct: 206-300-1000
Main: 206-300-1000
tara@hellickson.com


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