How to Prepay Your Mortgage

Over the course of a 30-year mortgage, you may end up paying more than twice the amount of your principal. The rest goes towards paying interest. That interest is money in the bank's pocket, not in your bank account. Prepaying your mortgage is paying extra principal, especially during the early years of your loan, meaning that your house will be paid off that much sooner, and you will pay less total interest over the life of the loan. It could put you that much closer to retirement.

Related Articles
- Real Estate Note
When it comes to real estate note dealing, there is a lot to be concerned with. Whether you have just learned what a mortgage note is, or you have had a great deal of experience buying and selling them, chances are that there is always going to be something that you'll have questions about. Indeed, individuals may have many questions when it comes to their own mortgage, the mortgage note holder, and the seller, but there are some basic principles that one should remember in order to keep everything organized!
- Flexible Mortgage For Self Employed
- How to Understand a N.I.N.J.A. Mortgage
- How to Choose a Mortgage Broker
- Advantages and Disadvantages of Refinancing
- How to Talk to Mortgage Lenders
- Green Mortgages
- How to Avoid Foreclosure by Knowing Your Mortgage Type
- How to Compare Mortgage Programs
- How to Follow the Mortgage Accelerator Plus Program