Financial Health in 2019

January 21, 2019

Financial Health in 2019

If you’re looking to make some financial headway this year, let’s talk about why now is as good of a time as any (or better) to review your mortgage and discuss how paying down your mortgage more aggressively will save you money in the long term.

Mortgage Review

If you haven’t had a mortgage review completed in a while, the start of a new year is a great time to do this!

Depending on when you got your mortgage, by taking a look at your existing mortgage and comparing it to products available on the market today, you might be able to save a lot of money by restructuring. Even what seems like an insignificant saving can have a considerable impact when rolled out over several years.

The truth is, you’ll never know unless you take a look. So even if you’re just a little bit curious, feel free to get in touch, and I’d be more than happy to sit down with you and discuss your mortgage options.

Early Pre-Payments

Consider aggressively paying down your mortgage using pre-payment privileges. Although you’ve probably heard this before, maybe now is the time you decide to take action.

Most mortgages allow you to pay down 10-20% of the original principal mortgage amount as a lump sum and/or increase your payments by 10-20%. Did you get a raise at the end of 2018? Now might be a good time to increase your mortgage payments to match.

Any money that you put on your mortgage as a pre-payment goes entirely towards the principal balance and is not a pre-payment of interest.

My goal is not only to help you get the best mortgage available, but also to help you get rid of that mortgage as quickly as possible.