Jackie O Dollarhyde C21 Everest

Once in awhile I get clients that want a 15 year loan, or they want to know how much they will pay down their loan if they make extra payments. Etc. I highly r...ecommend you stick to a 30-year fixed and don't make extra payments. Here are the reasons: On a $400,000 loan, a 15-year loan payment is about $900 more a month. It makes it a bit more difficult to qualify for that and if you lose your job or something happens, you're going to really want that extra $900 a month. I know, I've seen it happen to people. Same thing with making extra payments, it's not going to make a huge difference on paying down that loan, it's better to put that money in the bank and save it because when you need the money, again, losing a job or something like that, it's more difficult to pull the money out of your house. I cannot refinance you if you don't have a job. Also, having all that extra equity in your house instead of having the money in the bank is a big risk. If housing prices drop big time for some reason, All that Equity is gone and you may never get it back. Or something happens to your house and you have to walk away, God forbid, again you lose all that Equity. Better to have the money in the bank or Investments. If you save enough money someday you could just pay it off. But remember, that $2,000 a month payment your paying now may seem like a lot, but in 20 years it won't seem like much at all. So go with a 30-year fixed and instead put that money in the bank. You will be in a much more secure position. See more

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Sounds like something you’d say about a house that’s definitely haunted, but okay. #free #ushud #realestate #home