Mortgage Sense

Can you — and should you — prepay a mortgage loan?

     
Can you — and should you — prepay a mortgage loan?

Buying a new home is exciting. But having to pay off that loan can get real old real fast, especially since it can take decades to pay off. That can be depressing for first-time homebuyers who probably have multiple financial challenges — car loans, school loans, credit cards, and smaller starting salaries early in their careers. Luckily, they probably also still have plenty of time to earn and invest.

 

Still, it’s tough to watch most of your scheduled payments go to cover interest, and very little goes towards reducing the principal during the first few years of your mortgage.

Continue reading Can you — and should you — prepay a mortgage loan? at Movement Mortgage Blog.

About the authors

Our team is truly passionate about a career that allows us to connect with people every day. We want to build a legacy that is grounded in a genuine desire to build long lasting relationships based on trust. We have the privilege of helping people with one of the biggest financial decisions they will ever make, and we do not take that lightly. Our goal is to provide a level of service that is unparalleled and an overall experience that is remembered for years to come.

Meet the team

About Movement Mortgage

Movement has grown from a small team of 4 to over 4,000 employees with more than 500 locations across 46 states. Inc. Magazine recognized Movement Mortgage as the fastest-growing mortgage bank in the country.

Learn more about movement