How to Save Thousands of Dollars in Interest on Your Mortgage – Welcome to SouthFloridaHomeSolutions.com

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Refinance Your Mortgage Now Start Saving Now! Refinancing your mortgage at today’s low rates could save you thousands of dollars per year. Contact our offices now to learn how to reduce your monthly payment and increase your savings! Start Now Welcome To Home Refinance Network Homeowners are realize that refinancing can either be considered a.

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If you have the means, the easiest way to save money on your mortgage is by making an extra mortgage payment each year. These extra payments are automatically applied on your principal, not interest. Not only does your remaining balance drop, but you will not have to pay interest each month on that principal for the remainder of the loan term.

It’s just like it sounds: Increase your payment by $1 each month. For example, if your mortgage payment is $1,610.46 per month, you would pay $1,611.46 in month one, $1,612.46 in month two, and so on. For a 30-year, $1,610.46-per-month mortgage, you would reduce the term of your mortgage by four years and save more than $37,000 dollars.

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Credit score, also known as your FICO score is the number. However, those with a low credit score receive a higher interest rate and pay more on average. Having a bad credit score can lead you to.

Refinancing could save homeowners thousands of dollars during the course of their home loan. It can improve the interest. mortgage insurance, which saves even more money. "Of course, mortgage.