Did you know you can save $1,000’s and reduce the number of years of your mortgage without spending an extra cent in payments? All it takes is a little reshuffling of your payment frequency. The sooner you pay it off – the less interest you pay.

Even making your mortgage payments earlier in the month, will save you money.

Check-out the table below . . . your savings can be substantial when you come to realize “ Time Is Money”

Monthly
Making monthly payments may not be the most efficient way of saving money.
Bi-Weekly
Paying every other week generates substantial savings 26 payments per year
   
Semi-Monthly
Paying Twice a month costs nothing extra and saves interest payments.
Weekly
For the biggest
savings with
hardly any increase payments pay once a week.


Click on the above image to see the actual size image

* Table based on $80,000 fixed mortgage at 8 % per year


  Howard Fitch
Mortgage Specialist

866-426-8816
Cell: 519-427-9250


The Mortgage Center
Simcoe Ontario Why use a Bank?
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