๐ How to easily pay off your mortgage 7 years faster!
๐ How to easily pay off your mortgage 7 years faster!
By dividing your monthly mortgage by 4 and paying weekly instead of monthly, youโll 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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๐ธ Would you pay off your mortgage early?
There is not secrey sauce here.. just pay what you borrowed, the sooner the better.
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.
Most mortgage companies only allow one payment a month. This wonโt work for most. You have to do what everyone else does and pay principal payments with regular payments monthly.
This would probably be easier with a flexi housing am I right? ๐
This is probably easier to do with flexi loans am I right?
I usually donโt 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 ๐
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 ๐ฅ
How does paying 665 every week that equals to 2661 a month saving money
Him ok its raised to 6 grand
Well normal people salary is les than 2000$ a month..
Couldn't understand a single thing but thanks
โฆ At this pointโฆ 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 eitherโฆ 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 tiredโฆ But how did he conclude that he's paying 13 months worth of payments?
This is why they have policy yk
It won't work
But who am I to say this. I'm not the smart one
No way, this is too good to be true.๐ง
Do this with a 15 year loan if youโre making good money
Who knew paying more would mean that ๐ฑ
7%?! That sounds like a scam
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 butโฆ.. 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.)
Bros asian parents are proud
I'm sorry but 2661 dollars per month for the loan??? I can never buy myself a house
On nintendo you can recalibrate
โ โ
:OIs that w math or no
So, you are paying $9,57,960 for a $400,000 house and you are happy with that???
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 advice๐๐
Very wild concept displayed in this video "pay more each month and pay less total" woooow, lifechanging
Instead $2,661 a month, how about I pay you $3.96 an hour, because thatโs just a cup of coffee! Very affordable mortgage ๐