How to Pay off your Mortgage in 5-7 years: The Ultimate Guide
sirmoneymoves
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How to Pay off your Mortgage in 5-7 years: The Ultimate Guide
117 472 просмотра · 3 года назад
sirmoneymoves
29,6 тыс. подписчиков
117 472 просмотра · 3 года назад
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In this video, we're going to teach you how to pay off your mortgage in 5-7 years!
If you're looking to save money on your mortgage, then this video is for you! In this guide, we'll show you step-by-step how to pay off your mortgage in as short a time as possible. By following our advice, you'll be able to save money and reach your financial goals much faster than you thought possible!
Timestamps
0:00 - Intro
0:40 - How does a mortgage work?
1:23 - How much interest am I paying?
1:52 - How much of my mortgage payment goes towards principal?
3:06 - Why most people never pay off their mortgage
3:25 - How do I build equity in my home?
3:45 - What happens when you refinance your home?
4:47 - When does most of my mortgage payments start going to the principal?
5:41 - How can I pay my mortgage off faster?
6:09 - What is a HELOC?
6:29 - How much can I borrow in a HELOC?
7:05 - What I paycheck parking?
10:27 - How do you pay your mortgage with a HELOC?
13:03 - How to pay off your mortgage in 5-7 years
13:39 - How much interest will this strategy save me?
13:55 - HELOC vs Extra Principal Payments
15:26 - How soon can I pay off my mortgage with additional principal payments?
15:49 - What are the risk involved?
17:22 - Conclusion
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DISCLAIMER: I am not your financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments. I get commissions for purchases made through links in my video description box. Thank you for watching!