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Few people can buy a home for cash. Most of us have a difficult enough time saving the money needed for a down payment. To realize the dream of home ownership, we usually have to combine our savings with borrowed money through a financial arrangement called a mortgage. Paying off a mortgage is usually a long-term commitment over many years. Most homeowners would like to be mortgage-free sooner. Even if you lock into a long-term mortgage with an affordable interest rate, many lenders today offer the flexibility to pay down the principal and interest faster than scheduled.
To ensure you have the flexibility to cut years off your mortgage, you need to look at the options and understand them before you buy. The following links will take you to lenders that may be right for you: |
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