You can save thousands of dollars in interest on your home, and pay it off in much less than the term of the loan, by just paying a little extra with each monthly payment. For example, if you had a home mortgage of $100,000, payable at 7% per annum interest, by paying just an extra $110 monthly toward the principal, you would save $53,439 in interest payments over the life of the loan. You would save thousands of dollars, and would own your home, free and clear, in just 20 years.
If you would like to pay a little extra on your loan principal monthly, and want to know how much you could save, call Mohamed Mekhimar. We will run an amortization schedule for you and/or refer you to our preferred mortgage specialist.
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