Mortgage Saving

saving for a mortgageMaking regular additional payments toward the loan principal can yield enormous savings. Borrowers can accomplish this in several ways. For many people, perhaps the simplest way to organize this process is by making 1 additional payment per year. However, many folks will not be able to swing this huge additional expense, so dividing a single extra payment into twelve additional monthly payments is a great option too. Finally, you can commit to paying a half payment every other week. These options differ slightly in reducing the final payback amount and reducing payback length, but they will all significantly reduce the length of your mortgage and lower your total interest paid.

One-time Additional Payment

Some folks can’t manage extra payments. Keep in mind that most mortgages will permit you to make additional payments to your principal at any time. Any time you come into extra cash, consider using this rule to make a one-time additional payment toward your mortgage principal.

If, for example, you were to receive an unexpected windfall five years into your mortgage, investing a few thousand dollars into your mortgage principal will significantly shorten the repayment duration of your loan and save enormously on interest over the life of the mortgage loan. For most loans, even a relatively modest amount, paid early enough in the loan period, could offer huge savings in interest and duration of the loan.

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Friendly, warm, compassionate and understanding.

Lori and her team were able to complete my mortgage - start to finish - in 23 days. That is...

Jennifer Flinton

5.0
2015-12-21T09:36:16+00:00

Jennifer Flinton

Lori and her team were able to complete my mortgage - start to finish - in 23 days. That is unheard of in this industry where it normally takes 30-60 days, minimum. They were also able to help me write up not one, not two, but four offers on houses within that time period, providing the necessary paperwork promptly each time. But most importantly, Lori and her team were friendly, warm, compassionate, and understanding, on top of being professional and efficient. I cannot recommend them highly enough.

Profoundly knowledgeable and professional.

We have had the distinct pleasure of working with Lori on multiple mortgage needs over several years. On each occasion...

Frankie & Melinda Waller

5.0
2015-12-21T09:37:22+00:00

Frankie & Melinda Waller

We have had the distinct pleasure of working with Lori on multiple mortgage needs over several years. On each occasion we have found her to be profoundly knowledgeable and professional, while at the same time being a joy to work with due to her enthusiasm, pleasant personality, and warmth.....Thank you Lori for all that you do!

Thank you so much!

Lori Anderson, Ashlynn Kelso, and the team @ Georgetown Mortgage, I know how lending guidelines make any conforming loan a...

Landon Smith

5.0
2015-12-21T09:38:11+00:00

Landon Smith

Lori Anderson, Ashlynn Kelso, and the team @ Georgetown Mortgage, I know how lending guidelines make any conforming loan a difficult process these days. I truly believe these two refi's wouldn't have been this smooth, or closed at all, anywhere else. I have, and will continue to refer anyone looking for a loan in TX to you guys. Thank you so much!

She used technology to make us feel like we’re in the same town.

We cannot speak highly enough of our experiences in working with Lori Anderson to arrange financing for our new home....

John and Carolyn Drummond

5.0
2015-12-21T09:39:36+00:00

John and Carolyn Drummond

We cannot speak highly enough of our experiences in working with Lori Anderson to arrange financing for our new home. For most of the process, we were in a different city from Lori, but she used technology to make us feel like we're in the same town. We felt as though we had a personal relationship with Lori. She could not have been more supportive, patient, and positive. I encourage anyone purchasing a home to contact Lori Anderson.

We couldn’t be happier.

A big thank you to Lori Anderson and her team. We couldn’t be happier with Georgetown Mortgage.

Ruben and Laura Vela

5.0
2015-12-21T09:40:09+00:00

Ruben and Laura Vela

A big thank you to Lori Anderson and her team. We couldn’t be happier with Georgetown Mortgage.
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