Blog Category: mortgage payoff

October 15th, 2018 Mortgage prepayment versus recast
October 15th, 2018

Mortgage Prepayment vs. Recast: Lower Your Payment or Pay Off Your Loan Faster?

UPDATED OCTOBER 12th, 2026

When you divvy up your monthly budget pie, housing is very likely the biggest slice, especially after you add in utilities, maintenance and of course, your mortgage.  

So wouldn’t it be great if you could lower your mortgage payments without refinancing your loan? Or better yet, pay off your mortgage ahead of schedule? Read More

Categories & Tags mortgage, Prepayment, Refinance, , , 4 Comments »

February 6th, 2012 Mortgage House Money
February 6th, 2012

Prepaying Your Mortgage Saves You Money, But How?

Prepaying your mortgage is a great idea if you can afford to pay extra. Especially if you are going to be in your house long term, or forever. The best way to save money on debt is to not have it! But many people do not realize that prepaying a fixed rate loan does not reduce the monthly payment. Prepaying a loan simply shortens the term. So prepayment builds equity faster, and ends the loan sooner. You save money by having the loan for a lesser amount of time. Read More

Categories & Tags interest rates, tax breaks, , , , 2 Comments »