๐Ÿ˜Œ How to easily pay off your mortgage 7 years faster!

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Sean Pan

Joined: Dec 2024
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๐Ÿ˜Œ How to easily pay off your mortgage 7 years faster!


By dividing your monthly mortgage by 4 and paying weekly instead of monthly, youโ€™ll be making 13 monthly payments a year, which will drastically reduce your total interest payments over the duration of the loan and will shorten your mortgage duration from 30 years to just 26 years!

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@seanlovesrealestate

๐Ÿ’ธ Would you pay off your mortgage early?

@juanalberto8622

There is not secrey sauce here.. just pay what you borrowed, the sooner the better.

@ChrisCaledon

I did this. It works. Early paid off house. Better yet, you can do this, then max out your weekly payments, and Max out the 'Extra Prepayment amounts annually. Find out what your bank offers. Or, invest all of your extra money and just stick with the weekly payments. Paying off the house is one less worry though.

@macgyvernetwork1437

Most mortgage companies only allow one payment a month. This wonโ€™t work for most. You have to do what everyone else does and pay principal payments with regular payments monthly.

@cheyswayz7150

This would probably be easier with a flexi housing am I right? ๐Ÿ˜Š

@cheyswayz7150

This is probably easier to do with flexi loans am I right?

@HuzaifaRehman-ym3wu

I usually donโ€™t understand but when I actually found out what shortage and loan is it makes a lot of sense

So you will pay 958,000 dollars for a 400,000 dollars loan that makes it 558,000 dollars in intrest over that years thats already more than the principal amount lol ๐Ÿ˜‚

@Colten_Mag

Thanks for Sean for telling us failures what its like buying houses/real estate but we all know these 3 generations are not getting shit ๐Ÿ”ฅ

@johnbhoygamer188

How does paying 665 every week that equals to 2661 a month saving money

Him ok its raised to 6 grand

@filippecko7798

Well normal people salary is les than 2000$ a month..

@ZaGamingPlace

Couldn't understand a single thing but thanks

@mrgoober8805

โ€ฆ At this pointโ€ฆ I get the feeling that these guyd don't know what they're talking about.

I'll be honest and admit I dont know much eitherโ€ฆ But I have never ever seen a bank accept what this guy is suggesting.

Basic loans usually have a minimum of every two weeks right? And what he's suggesting is paying 1/4 of a monthly payment every week right?

Maybe im tiredโ€ฆ But how did he conclude that he's paying 13 months worth of payments?

@GukorD

This is why they have policy yk
It won't work

But who am I to say this. I'm not the smart one

@SourPuppet35

No way, this is too good to be true.๐Ÿ˜ง

@exploded-creeper

Do this with a 15 year loan if youโ€™re making good money

@bossyobro426

Who knew paying more would mean that ๐Ÿ˜ฑ

@alex-z7y8o

7%?! That sounds like a scam

@rachaelreczenski7270

I do this too. I go a little further. I round up my monthly payment by about $150, then divide by 4, then round up again this time to the nearest $25 increment, and pay that weekly.
When my mortgage goes up every year, its a heck of a lot easier pill to swallow with the cushioning in my payments/ budgeting.
I read somewhere that it's better to save the extra $ to the side and make a lump sum principal payment with the excess over the minimum payment butโ€ฆ.. its just a heII of a lot easier to let the autopayments do the work. (As in, my bank won't specifically apply my excess payment to my principal balance on my house. They apply it at the same [ratio?] as the typical payment. I might have the terminology off but thats the jist of it. But now that makes me wonder if there's also excess going into my escrow. โ€“ Then again, I don't think its worth the extra fuss on my part to look into it.)

@ultragoblin5584

I'm sorry but 2661 dollars per month for the loan??? I can never buy myself a house

@evedent_yt

On nintendo you can recalibrate

@alinaali8917

โ€“ โ€“

@alinaali8917

:O

@bessyaga2289

Is that w math or no

@japanenthusiastje243

So, you are paying $9,57,960 for a $400,000 house and you are happy with that???

@milgonfoong6458

Hi Sean,
With your way to pay per week, which option do you choose when you pay with online? Theres option:
1.Monthly Payment
2. Capital payment
3. Advanced payment

Please give advice๐Ÿ™๐Ÿ™

@jonas.r5

Very wild concept displayed in this video "pay more each month and pay less total" woooow, lifechanging

@megatar3

Instead $2,661 a month, how about I pay you $3.96 an hour, because thatโ€™s just a cup of coffee! Very affordable mortgage ๐Ÿ˜€