Banks love to loan money to people who can pay it back, people who are willing to pay a lot of money to them in return for borrowing money.  The most popular loan is a 30-year fix. For someone who wants to pay off their mortgage in less time, a 20 or 15-year mortgage might is your best bet. 

There’s no real incentive to pay off any mortgage faster than you need to because those payments are tax deductible AND they are one of the lowest interest rates you can possibly borrow!  If you’re going to borrow money, you should borrow it from your home because it’s the cheapest place to borrow money.  Not a credit card or car loan or some other form of lending.  And because the home is tax deductible, there’s an extra incentive to owe money on your home vs. owing money on a credit card or other debt.  So the last thing you want to do is pay off your mortgage.

If you own your own business you can take, for example, 20K from the equity of your house is put in your business.  With the money you borrowed at 4 percent and put it into your business, you’re now getting an 80 percent return!

Yes…call me!  When there is a loan problem and no one can figure it out what’s going on, I get that call.  If there’s earnest money or deposits on the line I will figure out a way to get the loan to go through so nobody loses out on any money.