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Cut
the length of your mortgage by one-third and keep the same
payment? Making the right choice just got easier.
You
may have heard about it but wondered how it's possible to
reduce your loan term (and how much interest you pay!) without
making changes to your current loan agreement. It's simple
yet powerful. By applying your payment in a bi-weekly manner
rather than monthly, you will effectively make one additional
payment per year that is applied directly to principal. It
may not seem like much, but just like the old adage goes:
A Little Goes A Long Way. Over time, those additional payments
REALLY add up, paying your house off sooner (typically about
one-third of the time sooner) and reducing the amount of interest
you pay, sometimes by hundreds of thousands of dollars! It's
surprising the difference one little change can make. To learn
more, enroll in the program and run scenarios in an online
calculator, visit our Equity-Builder
partner site. A HomeQuest Mortgage Loan Officer
can show you how you can utilize the Equity Builder to your
advantage.
Have
questions? Get direct answers from a HomeQuest Mortgage Loan
Officer at 888-499-5822, submit a question online: click
here or visit the HomeQuest
Mortgage Smart Borrower Learning Center for detailed
explanations of the loan process, documentation and more. |
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How
it works
The
conventional manner of paying a mortgage is on a monthly
basis: the lender sends you a bill for the month and
you send a check. But what if there were a program that
allowed you to break your monthly payment in half and
pay those half-payments every two weeks? The result
is a powerful financial tool that's been around for
generations but that few Americans take advantage of!
By paying a half-payment every two weeks, you can cut
your loan term (how long it takes to payoff a loan)
by up to one-third and pay much less interest! A HomeQuest
Mortgage Loan Officer can explain those details and
help you understand them. Or visit our Equity
Builder partner site to enroll.
Net
Effective Interest
How
would you like to have an interest rate as low as 3%
or 2% without buying it down? Sound crazy? By making
your half-monthly payment every two weeks, Equity Builder
leverages the Time Power of Money against the interest
you pay over the life of the loan, yielding a Net Effective
Interest Rate significantly lower than your Note Rate.
In some cases, homeowners with a Note Rate of 7% can
pay off their loan in one-third less time and end up
paying less than a 4% Net Effective Interest Rate! To
learn more, make sure you get all the details by speaking
with a HomeQuest Mortgage Loan Officer, or visit our
Equity
Builder partner site to enroll.
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