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What you Need to Know  Before Making a Purchase!

 

PBA Loan

 

MORTGAGES

 

Let's get right into this.

It's all about the mortgage interest rate.  Consider the following

Mortgage Mortgage
Amount
Interest
Rate
Length Monthly
Payment
Total Paid
over Term
Mortgage A $200.000 10% 30 Years $1755.14 $631,851
Mortgage B $200.000 7% 30 Years $1330.60 $479,017
Mortgage C $200.000 5% 30 Years $1073.64 $386,511

As you see, getting the best interest rate can put a lot more money in your pocket each month.  More significantly, look at the amount saved at the end of the mortgage.  The difference of just two percent (Between Mortgage B and C) equates to almost one hundred thousand dollars.  That is actual dollars.

Ten percent mortgages were the average not too long ago and will be back again.

 

Using the same numbers as above, if you are able to refinance and drop your interest rate from seven percent to six percent (just one percent), the savings would $131.50 per month and $47,341.42 over the term of the mortgage. 

The savings are more when reducing one percentage point at higher rates like from eight percent to seven percent.

 

 

 

 

 

Twenty-five years of service is a long time.  For those who are disciplined and plan well, it can mean much luxury at retirement.  The key is simple; investments.

In this article we will try and give you an ide

Mortgages

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