Building equity in your home (a little faster)

It’s a bit of a shock to realize that on a standard 30-year loan of $201,000, interest alone can add up to $244,533. In many cases, you end up paying more in interest than the actual cost of

Here are a few ways to change the math in your favor:

• Biweekly Payments: Making a half-payment every two weeks can save you about $41,000 in interest.

• Extra $100/Month: Applying just a little extra to your principal each month can shave about 4.5 years off the life of your loan.

The best part with these strategies is that, unlike a 15-year mortgage, these strategies are optional—you keep your lower required payment if things ever get tight.

I’ve linked a flyer with a few more details on how these numbers break down.

If you're curious about how this might look for your specific loan, I'm happy to chat!

Sincerely,
Kevin Porter

Porter Realty
Focused on You, Invested in Our Community

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