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Real Estate Tips
Financing Your Home >Your Mortgage

Many homeowners overlook the mortgage payment as a tool for financial management. They get the mortgage, move in, make the payments, and pay off the loan eventually. Smart homeowners know that by properly adding to their monthly payments, even by a small amount, they can substantially reduce the term of their loan, not to mention the total interest they will pay. In fact, prepaying one full year of a standard mortgage can save thousands of dollars in interest. The key is to do it properly and to find the right lender for whom prepayment is not a problem.

More progressive lenders allow the option to add money to the monthly payment which goes directly to the principal. How much should you add? It's largely a personal decision, and it depends on your cash flow. But be mindful of the fact that the mortgage interest rate is probably the lowest interest loan you will find, so don't short yourself with prepayment only to run up credit card debt!

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Real Estate Trivia
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Upon completion this year, what will be the tallest residential building south of New York and east of Chicago?

A 
Located in Biscayne Bay, Florida, the $120 million, 51-floor luxury condominium will be called The Santa Maria.
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Chris Weitzel & Associates, REALTOR®, real estate agent and broker for Whatcom County, Sudden Valley and Bellingham Washington home listings, property and land for sale - NUMBER1EXPERT(tm)

Chris Weitzel & Associates
RE/MAX Whatcom County

1937 Lake Whatcom Blvd
Bellingham, WA 98229
Direct: (360) 312-5151
Toll Free: (888) 733-7518
Email: chrisweitzelandassoc@NUMBER1EXPERT.com

Chris Weitzel & Associates is the #1 Real Estate "Team" in Whatcom County and we have over a combined 65 years of experience. With a top listing agent, two buyer's agents, a marketing specialist and a transaction coordinator - we have all the professionals and tools to handle any real estate transaction. We hope that you will choose Weitzel & Associates to represent you during your next real estate move in Whatcom County.

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