How to save over $10,000.00

Improve your FICO

Improving FICO

• Obtain full copy of credit report
• Dispute items which are not yours
• Ask for higher limits
• Pay CC's down to 30-40% of max
• Reduce Debt to Income Ratio
• Get Lender's Advice - they are experts

Buy down your rate

The Buy Down

• Find out the cost of buying down your rate
• Look at the new rate compared with the old rate
• Pencil out the difference compared with the cost of the buy down
• Ask lender/realtor if it's worth it
• They do what you think is best

Extra Payments to Principal

Reduce Principal Amount

• A couple of hundred of dollars a month = huge difference
• Make sure it's applied to principal
• Pay totally seperate from your regular mortgage payment
• Call bank/mortgage holder to verify it was applied correctly (important)
• You can literally shave years off of your mortgage and save thousands in interest

Work with Professionals

• Lender should have your best interest at heart
• They should offer you tips on mortgage reduction
• Your Realtor will have advice as to get your best deal on a mortgage
• Ask them then recap promises in a formal email (this reminds them of what they said to you in the honeymoon stage)

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