If you want to pay off your mortgage faster and save thousands of dollars over the life of your loan, then there are a few simple rules you need to follow, and a couple facts you need to be aware of.
And if you want a little bit help along the way to keep you on track to paying off your mortgage faster, download one of the better mortgage audit planning tools available on the Internet.
But first, check if your loan is one of the thousands being overcharged interest every day due to hidden mortgage and home loan errors ...
Paying off your mortgage can be as simple as following these five simple steps:
No matter how well intended you are, or how much you read up on stratergies to pay off your mortgage, unless you put a plan in place it will all fall by the way side. Once you've decided how much you want to pay off your mortgage and when you want to be debt free, you need to set up a plan and lock in your target.
Unfortunately banks make mistakes, and a hidden bank error can add thousands of dollars to your mortgage over the life of your loan. As you work hard to pay off your mortgage, the last thing you want is a wrong interest rate, or incorrectly set up offset account draining your money out the back door.
Scenario plan and decide how quickly you can pay off your mortgage, based on your current loan balance and current interest rate. Find out how much you could save if you increased your repayments by $100, $200 or $300 a month, and try to work within your budget. Even $10 extra a week can help you pay off you mortgage sooner and cut $30,000 off you interest charges.
As you pay off your mortgage go back and review how much your loans are really costing you. Calculate your total interest charges and fees, and you'll be shocked at just how much of your budget the mortgage soaks up. It's great motivation to keep you on track to paying off your mortgage sooner.
Track your extra repayments and monitor your mortgage balance, so you can stay in control as you pay off your mortgage. Keep all your mortgage details together so you have them in the one convenient location.
The award winning Home Loan Manager Pro has been specifically designed to help you stay on track to paying off your mortgage faster. Download now and try it free today.
Home Loan Manager Pro is the easy and affordable way to keep on top of your mortgage. Using the information from your bank statements and Internet banking site, this mortgage software will instantly put you in control of your loans.
With Home Loan Manager Pro you can:
Best of all you can download and try it free and see for yourself how it will help you stay on track to paying off your mortgage faster.