How much do extra mortgage payments really save you?

Posted by on January 29, 2022 · Leave a Comment 

If your current mortgage interest rate is five percent, you are guaranteed to “earn” five percent – by saving interest – on any amount of principal you pay off.

Most conventional, FHA, VA and USDA mortgages allow you to make extra payments, also known as prepayments, without any penalty.

Making extra mortgage payments is not the right strategy for everyone, though. Homeowners often refinance instead, into a 15- or even ten-year mortgage. This drastically cuts their interest rate and slices years off their mortgage.

How much could you save by making extra payments? Read more

Filed under pawn shops near me · Tagged with

  • Huddleston Tax CPAs / Huddleston Tax CPAs – Bellevue CPAs
    Certified Public Accountants Focused on Small Business
    40 Lake Bellevue Suite 100 / Bellevue, WA 98005
    (425) 273-6512

    Huddleston Tax CPAs & accountants provide tax preparation, tax planning, business coaching,
    QuickBooks consulting, bookkeeping, payroll, offer in compromise debt relief, and business valuation services for small business.

    We serve: Tukwila, SeaTac, Renton. We have a few meeting locations. Call to meet John C. Huddleston, J.D., LL.M., CPA, Lance Hulbert, CPA, Grace Lee-Choi, CPA, Jennifer Zhou, CPA, or Jessica Chisholm, CPA. Member WSCPA.