Secrets Your Mortgage Broker Will Not Tell You

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Mortgage Cycling Can Save You A Lot Of Money

Source: http://images.wisegeek.com

There is a secret technique to pay off your mortgage sooner, thus saving you a lot of money. Don’t expect this to come from your broker. You have various options for mortgage cycling, some safer than others. The safest way is to put large lump sums of money towards your mortgage loan every few months to a year. Paying thousands of dollars extra per year will cut down the term and save you a lot on interest payments. You can allocate money from your annual tax refund, or any cash gifts or prizes you may receive. Instead of buying some new items, save it for the mortgage. It will have been a wiser decision. Remember to always research and study your options when applying for a mortgage loan. It will save you time, trouble, and money.