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10 Tips towards saving on  your mortgage.
Saving on your mortgage can be difficult. We are here to help. We have compiled a list of ten ways that you can best save on your mortgage,

1. Get PRE-APPROVED on your mortgage instead of PRE-QUALIFIED.

This will help when you are bargaining with the seller and their real estate agents.

2. Pay more each month

This is a good financial habit to get into. Be sure to pay for your necessities first as a priority such as a medical bill.

Make sure you apply the extra payment to the principal not the interest or your escrow account.

3.  Ask about builder incentives

This can help reduce the loan costs.

4. Pay in a lump sum

If you receive money as a gift, an inheritance, a bonus or an income tax refund you’ll have another opportunity to put extra money toward your mortgage.

However, if you have higher cost debt such as, private student loans, auto loans or revolving credit cards then this may not be a good choice for you. Pay that debt off first!

5. Refinance your mortgage

This will help speed up your payoff.

The idea behind this is that you will have a lower payment this frees up more money towards your principal payments.

6. Appeal your Property Taxes

You can save up to $1900 in a triennial cycle appealing your property taxes based on lack of uniformity.

7. Try to do Bi-Monthly mortgage payments.

You can save $1000 doing this.  On average it can save you ~6 years on a 30 year loan.

8. Find a renter

If you have extra space then look for a person to rent out a room.  This is a great way to put more money towards your mortgage per month.

9. Buy Smart

Choose a house that is your right size. It’s like Goldilocks and the 3 Bears. You want a house that’s not too big or too small but one that is just right.  This will help you stay in a more affordable range.

10. Analyze your Appropriate budget

Your mortgage should not be more than 28% of your gross income monthly.