The Easiest Way to Save Big $$$ on Your Mortgage

Anyone with a mortgage understands the phenomenon of interest. We pay a lender a fixed or an adjustable interest rate for the “privilege” of borrowing their money, for a specific period of time, to pay for the home – however, that duration of the loan is a critical, yet often overlooked component.

That’s because during the life of a typical 30-year mortgage, it is common to pay more than 150%-200% in interest alone, over and above the actual amount borrowed (the principal). That’s because the longer you take to pay back the principal, the more money you’re forced to pay in interest over the life of the loan.