7 Secrets For Saving Thousands When Financing Your Home

Dated: 12/28/2016

Views: 41

It pays to do your homework!  Your knowledge about home financing can mean the difference between making or losing tens of thousands of dollars.  Here are seven strategies (I call them “secrets” because so many people disregard them when buying a home) you should consider when financing your home:

Secret #1:  Clearly Understand How Much Home You Can Afford

Secret #2:  Be Financially Prepared – Ahead of Time!

Secret #3:  Understand The Basics of Home Financing.  

Secret #4:  Know The “Insider Secrets” Mortgage Lenders Use To Take Money Out Of YOUR Pocket!

Secret #5:  Questions You MUST Ask A Mortgage Lender

When you meet with a lender, be prepared to ask questions.  You have a right to this information and a lender will answer them without hesitation.  Here are some examples:

  • Will I be charged an origination fee?  If so, how much?

  • Will I be charged separate discount points?  If so, how much?

  • Will I be charged any of these separate fees:  processing, document preparation, underwriting, tax service or flood certification?


Secret #6:  Work Out A Cost Comparison On Several Lenders To Locate The Perfect Loan!


Secret #7: How To Save You Tens Of Thousands On Mortgage Interest

You can save thousands of dollars in interest by making one extra mortgage payment every year!  Lenders frequently promote “Bi-Weekly” payment programs (which help minimize the interest you’ll pay by increasing payment frequency) because they make money administering the program.

You can do THE SAME THING by making your own mortgage acceleration calculation.  Take your monthly principal and interest payment and multiply that number by 13.  Then divide that total by 12 to get your new “accelerated” monthly payment.  This can make a world of difference in savings to you – and your ultimate net worth!


How To Find The Perfect Home and Save Thousands When Buying…

I offer a Premier Financing Program, which includes a Lowest Loan-Locator Service™ to help you find the best loan program for your needs.  To enroll in my no obligation program or if you have questions about my Advanced Home-Locator Service™ where my software will sift through the market each night to find hidden bargains and new listings before anyone else to send you daily email notifications at no charge – call me using this number:

Jon Ortiz REALTOR®
Home Buyer Representative

703-819-4651

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