Are you paying too much in interest on your mortgage?
Lots of people don’t realize how much of their money is actually going towards interest alone.
Family Tree Financial is please to introduce you to our in-house mortgage specialist, Melissa McArter. Melissa specializes in refinances and has helped dozens of her clients save money!
The best thing about it is that her services are completely free!
Here is an example of a mortgage at 2.5% OLD rate versus 1.5% NEW rate:
Mortgage Amount: $400,000, 30 year amortization, 5 year term
|
Mortgage RATE: 2.5% |
Mortgage RATE: 1.5% |
|
Payment: $1,578 |
Payment: $1,380 |
|
Amount to Principal: $765 |
Amount to Principal: $892 |
|
Amount to Interest: $813 |
Amount to Interest: $488 |
|
Interest over the 5 year Term: $46,420
|
Interest over the 5 year Term: $27,652 SAVE: $18,768 |
With rates being at an all time low, now is the time to review your mortgage rate.