Comments on: Buying A New Home And Understanding Mortgages Part 3

By: Jody Chambers

Jody Chambers — Thu, 29 Jul 2010 14:20:06 +0000

Just so you know I think, in the second paragraph, a day may be meant to be a week .

By: Jody Chambers

Jody Chambers — Thu, 29 Jul 2010 14:18:33 +0000

A word of warning in regards to bulk payments, always check how much you are allowed to pay extra per annum without incurring a penalty fee. This is especially relevant to fixed interest loans as early repayment fee can be in the tens of thousands.

By: Jazz Salinger

Jazz Salinger — Sat, 24 Jul 2010 00:40:45 +0000

Hi Sean,

This is excellent financial advice. Any extra money you get you can put on your mortgage and you’ll save a ton of interest. You can also put the money you get back from your tax each year on your mortgage.

All of these small amounts will add up over time and make a big difference.