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    Real Estate you should know

    3 Ways to Save $100k on Your Next Home

       Saving $100K on your next home sounds crazy, right? Savings like this can be life-changing and could allow you...

    • Susana Murphy
    • January 2nd, 2019
    • 3 min read

      

    Saving $100K on your next home sounds crazy, right?

    Savings like this can be life-changing and could allow you to do so much more with your future plans. Believe it or not, with knowledge and a few changes, this could be your reality. 

    A strategy that will save you thousands of dollars in interest charges is paying extra on your mortgage monthly.  This can eliminate multiple years off of your home loan.

    Understand that paying down the principal quicker on your home does not decrease your minimum payment each month. However, it will shorten the life of the loan and save you more money than most can save on their own.

    ⬇︎ Here are three ways to save you thousands on your next home ⬇︎

     

    Increase Your Monthly Checks by One-Twelfth

    Some people do not know this, but the largest part of your early year payments go toward paying interest. If you pay a little extra on your principal now, this will make a significant amount of savings down the road.

     

    The additional 1/12th of your monthly payment will decrease the balance on your current principal and likely avoid some of those interest charges.

     

     

    Make One Extra Payment Per Year

    If you get an annual bonus or a nice size tax return check, use it to pay one extra mortgage payment each year. You will cut the life of the loan significantly and save thousands in interest.

     

    Pay Half of Your Monthly Payment Bi-Weekly

    This takes a little more effort, but you could authorize an automatic transfer from your checking account to savings account bi-weekly. You will have made 26 half payments, which will become 13 full payments at the end of the year without even realizing it!

     

    Look 👀 How Much You Can Save!

    (The table below is an example using $200,000 30-year home loan with an interest rate of 5%)

    Additional Monthly Payment

    Total Savings

    $100

    $37,069

    $200

    $61,160

    $300

    $78,258

    $400

    $91,095

    $500

    $101,121

     

    Calculate how much you can save on your own mortgage using this mortgage payoff calculator!

    If you have any real estate questions or would like some guidance on getting pre-qualified and finding the right lender, please call or email us today!

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    Author Photo
    About the author

    Susana Murphy

    508-345-5632
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    I'm Susana Murphy, and I founded ALANTE with a clear vision and a passion for redefining what real estate should be. Let me share with you why ALANTE exists, what we stand for, and what we aim to offer both our valued clients and our dedicated agents. ALANTE Real Estate wasn't just a business venture for me—it was a calling born out of a deep-seated belief in doing things differently, and doing them better. Having been in the real estate industry since 2005 myself as a top producing Realtor, I saw firsthand the immense potential for innovation and improvement. I recognized that traditional practices were falling short in meeting the evolving needs of clients and agents alike. My vision for ALANTE was simple yet profound: to elevate the real estate experience by combining cutting-edge technology combined with story driven marketing and timeless values. In an industry often defined by transactions, I wanted to focus on service. I wanted to create a space where clients felt heard, valued, and supported every step of the way, and where agents could thrive in an environment that prioritizes collaboration, growth, support and integrity. At ALANTE, we believe in offering our clients more than just transactions—we offer them transformative experiences. We understand that buying or selling a home is not just a financial decision; it's an emotional journey filled with dreams, aspirations, and life-changing moments. That's why we approach each interaction with empathy, expertise, and a genuine desire to exceed expectations. For our agents, ALANTE is more than just a brokerage—it's a community of like-minded professionals committed to excellence. We provide our agents with the tools, training, and support they need to succeed, all while fostering a culture of mutual respect, collaboration, and continuous learning. We believe that empowered agents create exceptional experiences for our clients, and that belief is at the core of everything we do. In an industry that's constantly evolving, we remain steadfast in our commitment to innovation and adaptability. We embrace technology not as a replacement for human connection, but as a catalyst for enhancing it. From advanced marketing strategies to streamlined processes, we leverage technology to enhance efficiency, transparency, and results. We don't just meet industry standards—we set new ones. We believe in raising the bar and redefining what it means to be a leader in real estate. Our dedication to excellence, integrity, and client satisfaction sets us apart, and it's what drives us to continually push boundaries and exceed expectations. So, whether you're a client looking for a personalized, unparalleled real estate experience or an agent seeking a supportive, forward-thinking brokerage, we invite you to join us on this extraordinary journey. Together, we're not just reimagining real estate—we're elevating it to new heights. Welcome to ALANTE Real Estate, where your vision meets our passion.

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