Mortgage hack! 🤫🤑

Making additional principal payments will shorten the length of your mortgage term and allow you to build equity faster. Because your balance is being paid down faster, you'll have fewer total payments to make, in-turn leading to more savings.

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[dinowarrior]

Why not pay 3, 500 every month, you would be paying the principal and the intrest at the same time.

[lchsleon]

It’s better to set every two weeks because you make 2 additional full payments towards principle every year. Instead of once a month.

[MKK-wgfz]

Great idea if your rate is 7%. If you’re under 45 and your rate is closer to 2.5%, invest that money in the S&P 500 instead of

[lorrielephew]

In another video you said not to do that. You said to invest it instead. Now I'm confused.

[tbossbae]

it's compounded DAILY interest. If you're making principle payments do them weekly rather than MONTHLY. Reduces the compounded daily interest cutting even more off the mortgage. It reduces the principle balance FAST