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Amortization and How it Affects you in the End

03 Oct

Amortizations on a home purchase or refinance can range from 1 year (which most likely wouldn’t occur) to the maximum of 30 years on a high ration mortgage (meaning less than 20% equity in the property).  There are some lenders who will do 35 year amortizations for a conventional deal on a primary residence.  Many clients focus so much on interest rate but fail to look at the most important thing (amortization).  By reducing your amortization is where you will see a big savings of your money.  Couple that with biweekly or weekly payments and you could shave years off of paying for your home.  Looking fr solid mortgage advice, visit http://www.tailoredmortgagesolutions.com

 
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Posted by on October 3, 2011 in Uncategorized

 

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