Are you thinking about getting a new house loan or thinking about refinancing….?
The math of compound interest is not in your favor…..
especially if it’s going to a commercial bank.
Here’s a fact that few consider when committing to a 30-year contract….
Independent of whatever rate you get…
3%, 5%, 10%….
it will take you roughly 20 years to pay off half the principal….
Don’t believe me?
Here’s a calculator to find your mortgage principal half-life…
The power of compound interest in a bank mortgage is never in your favor…
the bank always wins….
Here, the total amount of interest you pay, the volume of interest,
is largest in the first 20 years, slowing decreasing in the last 10 years…
In fact….in the first 5 years, the loan (contract) is basically an interest-only loan.
you were able to receive all that compound interest….
Would your Family benefit from this windfall of cash?
It’s possible … with family banking strategies….
Where do you start?
Give me a call… let’s talk…
Click Here and buy the book “Becoming Your Own Banker”
It’s easier than you think…..and you can get started now….
P.S. If your in the Charlotte, NC Area….come to our meeting here