How To Pay Mortgage Off Early & Save Thousands!

in my video about 10 hacks to pay your mortgage off early Jose asks my mortgage company doesn't allow me to make bi-weekly payments what should I do if a mortgage company doesn't allow you to make bi-weekly payments but you can pay extra towards your principal on Every payment then all you need to do is take one mortgage payment divide it by 12 and apply that much extra to every mortgage payment for example for easy math if your mortgage is twelve hundred dollars a month divide that by 12 you get one hundred dollars you apply one hundred dollars to the principal on Every mortgage payment and that's the equivalent of making one extra mortgage payment a month or paying your mortgage off bi-weekly and yes that very well could save you tens of thousands of dollars over the lifetime of the loan

Channel: Malcolm Lawson - REALTOR

Views: 13,464

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Id: GW3il3EJ6c8

Length: 0min 43sec (43 seconds)

Published: Sat Jan 14 2023