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How to save big on your mortgage interest

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Pay down your mortgage faster to save in interest A few extra dollars bi-weekly could make a big difference by Craig Wong, The Canadian Press Jun 24, 2016

Ready to pay your mortgage off before the full term is up?. Experts weigh in on whether to pay off your mortgage early or put your money to work elsewhere. percent) are saving something, but no more than 10 percent of their annual. ” The spread between your mortgage interest rate and what you can.

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Don’t apply for new lines of credit or take out any other loans in the months leading up to your mortgage application. It will only increase your debt-to-income ratio. In the long run, a good credit score will help you save big on your mortgage.

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If your credit score is 680, you ca do a few things like , If you can get it up to 760, some lenders feel you walk on water. That gives you a lot of extra things like a lower interest rate." Save a bigger downpayment. It might take just a little longer to get the house you want, and you’ll be forced to save more money each month.

Doing so can save tens of thousands of dollars in interest and shave years off your loan. Our accelerated. the tax benefits that come with the mortgage deduction. But Pond says, "The notion that.

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About the bi-weekly mortgage payment program, and whether it’s an effective way to own your home faster. Analysis, plus today’s live mortgage rates.. and save both time and interest in a big.

The interest rate on these debts makes the math simple. You will almost certainly save more in the long run. There are two big things to think about when making the decision to pay your mortgage.