Post Tagged with: "home mortgage"

3 Tips to Avoid Missing a Mortgage Payment

Man handing out a mortgage agreementOwning a house is a fulfilling experience but owning one debt-free is even more fulfilling. If you can find a great realtor, strike a great deal on a house, and pay in cash, then good for you. But if like most homeowners, you need a mortgage to make the purchase, then you’ll need to prepare for the monthly payments.
Here are three secrets to making sure you never fall behind on your payments:

Get a house you can afford

Many homebuyers make the mistake of buying a house they can’t afford. It isn’t the home of your dreams if you can’t maintain it, pay the bills, and still pay off the mortgage. Therefore, take a hard look at your current financial position before approaching a home loan provider in Ogden to get preapproved.

Make biweekly payments

Talk to your lender about making biweekly payments instead of paying monthly. It’s simple; you pay half your mortgage due every two weeks. This will make the monthly payments easier on your budget.

Save more money and make extra payments

One of the reasons people struggle to make payments is because they’re spending money they shouldn’t be. You can take a different approach by finding small ways to save money and using that money to pay off your mortgage instead. Bringing lunch to work, for instance, helps you save a few dollars every day. Allocate those dollars to your mortgage payments and you’ll end up paying off your home loan earlier.

Being able to pay off your mortgage can bring a huge sense of freedom and fulfillment. By making a few deliberate decisions, you can ensure that you make your monthly payments and clear your mortgage earlier than you expected.

August 10, 2018 at 2:03 pmFinance