International Bankers Financial Group

Bringing Dreams to Reality

  • Home
  • About Us
    • Our Team
    • About the Company
  • Resources
    • First Time Buyer Tips
    • First Time Seller Tips
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Programs
    • Loan Process
    • Mortgage FAQ
    • Mortgage Glossary
    • Calculator
  • Our Divisions
    • Food Division
    • Structured Financing
    • Energy Division
    • Development Division
  • Blog
  • Our Newsletter
  • Review Us
  • Contact

How Everyone Can Reduce Their Monthly Mortgage Payment

October 27, 2020 by International Bankers Financial Group

How Everyone Can Reduce Their Monthly Mortgage PaymentFor many people, their biggest monthly bill is their mortgage payment. Therefore, it should come as no surprise that there are a lot of people who are looking for ways to reduce their monthly mortgage payment. The positive news is that there are several ways to do so.

By putting some of these tips to use, everyone can find a way to pay less every month on their mortgage, helping them save money for other expenses such as a new car, college expenses, or that next vacation.

Shop Around Before Getting A Mortgage

For those who are still in the process of buying a home, it is a great idea to shop around and see what the options are. Even though there are rates advertised in the industry, it is always a smart idea to visit multiple potential lenders and see what they are offering. Then, with multiple offers in hand, it might be possible to leverage the offers against each other to see if they are willing to come down on their interest rates. This can help people reduce their monthly mortgage payment.

Put More Money Down

This is the most direct way that someone can lower their monthly mortgage payments. Even though this is a zero-sum game (taking more money out of the bank account and paying it sooner), this will directly reduce the monthly mortgage payment. Furthermore, this could get a lender to reduce the interest that he or she is charging, which could help homeowners save more money overall.

Refinance An Existing Mortgage To A Lower Rate

Finally, it is also possible for people to refinance an existing mortgage to a lower interest rate. This can help people who already have a mortgage save money by essentially replacing their old loan with a new one, accompanied by a lower monthly mortgage payment. Refinancing could also help people pay off their mortgage sooner.

Save Money On Monthly Mortgage Payments

These are a few of the top tips that everyone can follow to make sure they save money on their monthly mortgage payments. By shopping around, putting more money down, and refinancing an existing mortgage, everyone has the opportunity to save money on their monthly bills.

International Bankers Financial Group

Filed Under: Mortgage Tagged With: Affordability, Mortgage Payments, Mortgage Savings

Contact Angel Leon


President
Call (305) 790-4800
info@internationalbankers.com

NMLS#347870
Get a Rate Quote →

Connect with Us!

How can I help?

  • This field is for validation purposes and should be left unchanged.

Browse articles by category

Archives

Quick Links

  • Accessibility Statement
  • Privacy Policy
  • Blog
  • Contact Us
MLO License Info:
International Bankers Group | NMLS# 339877
Mortgage Loan Originator License #MLO-347870

Connect with Us

NMLS#347870


Equal Housing Lender

Our Location


2828 Coral Way
Miami, Florida 33145

Copyright © 2023 · Powered by MySMARTblog

Copyright © 2023 · Genesis Sample Theme on Genesis Framework · WordPress · Log in