How to Pay Down Your Mortgage Quickly

Thought you might be interested in an article How to Pay Down Your Mortgage Quickly and thought I’d share a few points with you here. I’ve found some relevant information here so if I find more, I’ll be sure to pass it on.

You don’t always have to have a house payment.

Buying a new home is a great way to build long-term wealth and hedge against inflation over time. While there are clear advantages from buying a home, being burdened with a big mortgage is a daunting task. For those who are concerned about their mortgage and want to pay it off quickly, there are several tips to pay off their mortgage faster than ever.

Budget and buy a reasonable home

The most important tip in paying down your mortgage quickly is to budget and buy a home you can reasonably afford. One of the biggest ways people get into debt is buying a home well outside their budget. As a general rule, your total monthly housing costs (including taxes and insurance) should not cost more than 25 percent of your gross monthly income, ensuring you have more than enough money to continue to save after your purchase.

If you want to keep reading with any of that content, by all means, click here. Please feel free to contact me on (0400) 032-110 or email at [email protected] for any thoughts and perspectives.

Thanks,

Bill Mitchell