Fast Mortgage Payoff2023-06-21T13:16:09-08:00
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Pay Your Mortgage Off Fast!

Make strategic extra mortgage payments that will pay off your mortgage fast  When is the best time to do this?

Whether you want to knock 4-5 years off your mortgage by making extra monthly payments or you want to knock 10-15 years off by making lump sum payments, we can help you strategize your next move!

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Why Making Extra Payments May Be Right For You

Thinking of making extra payments to pay off your mortgage fast?  Well, it’s not a bad idea if it’s for the right reasons!

People just like you choose to use their “pre-payment privileges” to lower their interest costs, practice good financial management and ultimately, to pay off their mortgage faster!

At Huber Mortgage, I can help you sort out the pros and cons of paying off your mortgage fast and outline the benefits for you.

Let me help you navigate through the options and decide if it’s the right choice for you.

How Many Years Can You Knock Off Your Mortgage?

  • Accelerate Payments – 2.9 years

  • Increase Monthly Payments – 5 Years

  • Use Full Lump Sum Payments – 15 Years+

Let me help you create a strategy so you make an informed, long-term and financially advantageous decision.

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Weighing Fast Payoff Options

  • Save thousands in unnecessary interest costs

  • Be done making mortgage payments years sooner

  • Increased monthly financial commitment

  • Less available cash for monthly purchases

  • Fewer dollars available for savings / investment

When assessing whether a mortgage pay down is a good idea or not, we need to ensure that any costs you will incur are outweighed by the overall long term interest savings.

Again, decisions need to be informed, long-term and financially advantageous for you.

Extra-Payment Privilege do not Trigger Mortgage Penalties

Using your extra payment privileges to lower your principal mortgage balance and paying off your mortgage completely are two different things.

Using your extra payment privileges allows you to direct money at your outstanding mortgage balance without incurring any lender penalties.  This is a great financial strategy, lowering your total interest costs significantly.  I always recommend clients utilize at least some of their extra payment privileges.

On the other hand, mortgage penalties are triggered if you put too much down against your mortgage principal, above what is stipulated in your mortgage contract.  Lenders typically allow between 15% and 20 % to be put towards the mortgage principal annually.

Payments over and above these contractual allowances trigger penalties and these are expensive!

Extra payments can be made at any point during your mortgage term or renewal time but please consult with Huber Mortgage to ensure you do not over contribute and trigger an expensive penalty.

Start The Extra Payment Process

Super-Fast Response Times

If you’re looking for advice before making extra mortgage payments, it’s crazy-easy to start the process with us.

You can connect via email, text or give me a call (250-212-7954) or simply fill out your easy online application form, and I’ll get back to you shockingly fast.

At Huber Mortgage, I offer lower rates, so you can save money and find the right mortgage fit for your situation.

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