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Pay off your home and debt FASTER without changing your budget
The secret to paying off your home and other debt more quickly is to take advantage of your home equity and a debt-consolidation refinance.
Consolidating debt and using your monthly savings to pay a larger principle payment is the secret to paying off your loan in record time. This method is even more effective when interest rates are low. Many are paying off their homes in a third of the traditional 30-year term without increasing their budget. Ask your Intercap loan officer to calculate your debt-consolidation refinance to determine how fast you can pay off your home and other major debt based on your home’s equity.
Equity is the difference between what you owe and what the house is worth. Over the last forty years, homes appreciated on average 4.2% across the US, even considering the recessions of 1980, 1991, 2001, and the Great Recession of 2008. Let’s say you purchased a $500,000 home five years ago. Your home could now be worth $615,000. Obviously, there’s no guaranty how much a home will appreciate, but history has shown that 87% of Americans’ net worth is in their home.
The problem with equity is it doesn’t work for you as long as you live in the home – or so you thought. As this unrealized gain sits in the home, we borrow money for cars, college, and other big expenses. Paying interest on borrowed money is where we lose a good amount of our earnings, taking us that much longer to pay off debt. Ironically, most homeowners are sitting on a good amount of equity that isn’t working for them. As Warren Buffet said, “The secret to wealth is earning interest, not paying it.” What if you could take that unrealized equity to pay off debt faster?
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https://www.intercaplending.com/wp-content/uploads/2020/08/Intercap-San-Diego-1.jpg7341313Kimber Parkinhttps://www.intercaplending.com/wp-content/uploads/2019/03/Intercap-Lending-Logo-1.pngKimber Parkin2021-02-26 22:14:222021-02-26 22:20:25Working at Intercap- San Diego
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https://www.intercaplending.com/wp-content/uploads/2021/01/15-year-mortgage-sm.jpg615692Mike Andersonhttps://www.intercaplending.com/wp-content/uploads/2019/03/Intercap-Lending-Logo-1.pngMike Anderson2021-01-04 16:59:562021-01-31 18:46:03Time for a 15-year fixed mortgage