How To Pay Off Your Home Quicker

For generations, homeowners would buy a home for life. Working over the years to make the payments and celebrating the end of the 30-year mortgage were great milestones in the family. Today, few home buyers expect to be in their home for longer than 7 years on average. Paying off a 30-year mortgage seems like an impossible task. Fortunately, there are great ways to pay off your loan which do not involve time. Here are a few tips for paying off your mortgage loan faster.

  • Biweekly Payments – Work with your lender to determine how they handle biweekly payments. If processed immediately, you can save 8 years of payments on a 30-year loan.
  • Extra Payments – By making just one extra payment each year, you can pay off your loan 11 years earlier.
  • Refinance to 15 years – There are great interest rates available for mortgage loans. Consider a 15-year mortgage.
  • Principal Reduction – Watch for ways to add to your monthly payment a little at a time. When possible, increase the principal payment you make.

Paying off your mortgage builds wealth. Consider your life goals, including retirement. A 30-year loan taken out at 37 years old will not be complete until 67 – retirement age. The loan needs to be part of the overall financial plan from the beginning and making a payoff a priority with a few simple steps can add up to huge savings in interest which can then be used for better investments.

Jan Kelley is a Top Producing Agent with a strong track record of success who began her career in Real Estate in 2011. Jan initially focused on working with buyers to find their perfect home in the right neighborhood for their unique needs and lifestyle. She further expanded her expertise to sales to help owners market their properties and achieve the best return. She was so successful, she began couching and training other agents. In 2019 to be able to serve all of her clients Real Estate needs she added Commercial Real Estate services. Specializing in residential and commercial leases, purchases and listing sales in the Northeast Dallas Metroplex, Jan knows the market well and offers excellent support, resources and guidance for those seeking or selling homes or commercial property. As a former nonprofit Executive Director of over 10 years and a small business owner, she understands the importance of community and the level of care each client deserves to make confident, informed decisions. Originally from Tulsa, OK, Jan attended Rogers State University and Tulsa Community College. Her career previously involved service to the community in non-profit, education and government. In 1992, Jan was recognized for operating one of the first National Accredited Preschools in Oklahoma, and then taught others how to receive their accreditation at Tulsa Technology Center. She was later appointed by the Governor of Oklahoma to implement the state’s workforce credentialing program at all of Oklahoma’s Technology Centers. Jan and her family moved to Texas in 2011. She and her husband of 39 years are proud parents and grandparents. Jan is a licensed REALTOR®, Seller Representative Specialist (SRS®), Accredited Buyer Representative (ABR®), Certified Negotiation Expert (CNE®), Pricing Strategy Advisor (PSA®), Benefits Association VABA member and a member of Rockwall Chamber of Commerce, Professional Women's Alliance and 100 Business Leaders of Rockwall County. Jan is constantly studying the local real estate market and acquiring new, valuable information to share with her clients. She believes in staying connected through active networking, volunteering and community involvement, to “enhance the quality of life and remain abreast of the decisions that affect us all.” Certified Negotiation Expert CNE® Seller Representative Specialist SRS® Accredited Buyer's Representative ABR® Pricing Strategy Advisor PSA® Veteran’s Advocacy and Benefits Association VABA member Rockwall Chamber of Commerce member Professional Women's Alliance PWA member 100 Business Leaders of Rockwall County member

Posted in Jan J Kelley REALTOR

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